KSR Attorneys Win Appeal In Illinois Securities Act Case

April 2022 – The Illinois Appellate Court upheld a nearly $500,000 judgment in favor of a KSR client under the Illinois Securities Act. The case involved an investment in an athletic training facility.  KSR prevailed at the trial court level by arguing that the securities at issue did not exist at the time of sale because the issuing company had not been formed. The appellate court rejected the defendants’ arguments on appeal, which included issues of materiality, reliance and causation under the Illinois Securities Act. 

Daryl Schumacher, Ashley Fawver, and Kelsey Killion handled the case.