Category: Case Results

Higgins & Burke Obtains Final Order of Approval of $7,500,000.00 Derivative Action Settlement

Higgins and Burke attorneys John Burke and Jordan Dorrestein have done it again, getting an excellent result for their clients. We are pleased to announce that they have obtained the Illinois Circuit Court for DuPage County’s Final Approval of a settlement valued at over $7,500,000.00 that will stand to benefit over 65 investors. The Court’s order of approval was entered today.

The investors purchased promissory note investments in certain limited liability companies based on the defendants’ representations that they would receive an ownership interest in Illinois, Indiana and Florida real estate owned by those companies.  When the investors did not obtain any payment or any sign of actual ownership interest, the attorneys at Higgins and Burke stepped in and filed an action against every person and business responsible for the promissory notes.

The approved settlement agreement will pay back investors the principal they invested plus 10% interest. Higgins and Burke congratulates attorneys John Burke and Jordan Dorrestein on this outstanding result.

Attorneys at Higgins and Burke represent investors who have been victims of financial fraud or other improper investment practices. If you have been a victim of investment fraud, or are concerned that you are currently being taken advantage by someone who you trust to help you with your investments, you can contact the law firm of Higgins and Burke today for a free consultation. For additional information, you can also visit Higgins and Burke’s Investor Information Center.

Higgins & Burke obtains Preliminary Court Approval of Settlement Valued over $7,500,000.00

Higgins and Burke congratulates its attorneys John Burke and Jordan Dorrestein on another outstanding accomplishment for their clients.

This year, they filed an amended complaint in a complex derivative action that stood to benefit over 65 investors who purchased over $7,000,000.00 in promissory note investments related to real estate in Illinois, Indiana and Florida. The complaint alleges that those promissory note investments violated Illinois Securities laws and seeks a complete refund (called “rescission” in legal terms) of the invested funds.

On November 12, 2015, the Higgins & Burke attorneys went before the Court for a hearing to grant preliminary approval of a settlement that would get the investors a return of all principal invested with interest. We are pleased to announce the Court granted that preliminary approval.

Attorneys Burke and Dorrestein will go back before the Court on January 14, 2016 for the hearing on final approval.

The law Firm of Higgins & Burke Prevails in a Battle with the Auto Insurance Industry

Higgins & Burke has once again achieved an excellent result for one of its clients battling an insurance company. Higgins and Burke represented a client who was denied insurance coverage after his car was badly damaged and inoperable in a car accident. The case involved multiple defendants, including the insurance company and an insurance producer that had a contract with that company to solicit insurance applications on behalf of the company.

During the course of the case, the insurance producer filed multiple motions to attempt to dismiss Higgins & Burke’s client’s case against them for consumer fraud and negligence. The claims against the insurance producer for consumer fraud were based, in part, on undisclosed premium financing charges on the insurance policy.  Higgins & Burke was able to defeat the insurance producer’s motions to dismiss the case by filing briefs with the Court and arguing the motions before the Judge.

The insurance company attempted to have the case thrown out by filing a “Motion for Summary Judgment.”  That motion argued that Higgins & Burke’s client did not disclose a previous accident in his insurance application. The insurance company argued that the supposed failure to disclose was a misrepresentation that allowed the company to void the insurance policy.

On the first day of trial, a Higgins & Burke attorney defeated that Motion by establishing evidence that their client purchased the policy through an insurance producer that was acting on behalf of the insurance company. Higgins & Burke’s client had informed the insurance producer of the previous accident.  Even though that producer had knowledge of the client’s driving history, the insurance producer failed to include it in the application. Based on that evidence, Higgins & Burke was able to argue that the insurance company had knowledge of the previous accident through the insurance producer that was acting on behalf of the company.

After Higgins & Burke defeated the motion for summary judgment, the defendant insurance company and the defendant insurance producer offered to pay double the amount of damages as a settlement. We congratulate attorneys Jordan Dorrestein and John Burke for this outstanding result.

Higgins & Burke’s team of attorneys have a long history of handling cases involving insurance fraud and financial fraud. Their insurance fraud cases also include fraudulent life insurance practices such as stranger originated life insurance. If you or someone you know has been a victim of insurance abuses, you can contact Higgins & Burke today for help.

Higgins & Burke Wins Appeal in Limited Partnership Dispute

Higgins & Burke is pleased to announce that the Illinois Appellate Court for the Second District just released an order affirming the dismissal of all claims against three Higgins & Burke clients sued in a limited partnership dispute. A copy of the order is available here: 2015-8-10 Rule 23 Order Affirming Dismissal

The case was filed by an individual who invested over $1,000,000.00 to have a limited partnership interest in the Higgins & Burke clients’ limited partnership. The partnership operated a hedge fund which held investments such as stocks. The case alleged that the Higgins & Burke clients mismanaged the hedge fund and made inaccurate quarterly statements concerning the values of the account.  The plaintiff claimed that those actions caused his share of the limited partnership to lose value.

Higgins and Burke obtained dismissal of the case at the trial court level by establishing that, as a matter of law, the plaintiff could not demonstrate any actual damage caused by their clients. The Appellate Court affirmed that dismissal and found that the plaintiff’s complaint did not show how Higgins & Burke’s clients did anything that caused the plaintiff to suffer damage.

The lead Higgins and Burke attorneys on the case were John Burke and Jordan Dorrestein.  We congratulate them on their continued success in representing clients in complex business disputes throughout the greater Chicago area.

Higgins & Burke Files Derivative Action to protect over 65 investors in Real Estate

The law firm of Higgins & Burke has filed an amended complaint in a complex case involving over $7,000,000.00 in real estate investments in Illinois, Indiana and Florida.

The firm is representing nine investors who invested over $2,000,000.00 dollars in promissory notes with six limited liability companies that owned or otherwise managed the properties. The derivative portion of the suit is brought against the managers of those companies and stands to benefit over 60 additional non-party investors who invested over $5,000,000.00 in the companies. The case alleges that the defendants violated the Illinois Securities Laws by failing to register the promissory notes as securities and by making misrepresentations during the sale of the promissory notes. The case also alleges that the managers of the companies were improperly commingling the invested funds and mismanaging the companies and properties.

The lead Higgins & Burke attorneys on this case are partner John Burke and associate Jordan Dorrestein. Together, in the last year alone, they have represented well over 50 families who have lost money in similar promissory note investments that went wrong.

A copy of the amended complaint filed in the Illinois Circuit Court for DuPage County, Illinois can be viewed here: 2015-1-9 Amended Complaint