December 1999 - KrislovLaw files case dealing with privatizing Amway Subsidiaries

November 1999 - Yield burning-KrislovLaw surmounts first hurdle in Cook County Case!

October 29, 1999 - Consumer - Landlord Tenant Matters - Excessive Late charges. KrislovLaw obtains summary judgment on behalf of certified class...

August 27, 1999 - KrislovLaw turns tables on insurance companies seeking excessive subrogation amounts!

July 3, 1999 - Constitutional Rights: KrislovLaw knocks out Illinois restrictions on Candidate Petition Circulators.

June 9, 1999 - Krislov & Associates, Ltd. files shareholder class action against  McKESSON HBOC, INC.

ERISA- $6.9 million cash plus 20% ownership doubles employees'
retirement funds!

After 9 years of litigation, KrislovLaw produces $950,000 settlement from Hoyne Savings Bank for misamortizing home mortgage loans by charging interest in advance.

News- April 23, 1999-- Appellate Court reinstates KrislovLaw Civil RICO count against Allied Waste Services, Inc. If you are a garbage collection customer of either Allied or National or their affiliates, email us.

November 1999 - Yield burning-KrislovLaw surmounts first hurdle in Cook County Case!
On November 3, 1999, U.S.District Judge George W. Lindberg denied the motions by the bankers and accountants, eventually joined by the Cook County State's Attorney to have the case dismissed for technical defects in the demand.

One of a series of "Yield Burning" cases filed as taxpayer derivative actions alleging that investment bankers  marked up and overcharged municipalities for U.S. Treasury securities sold them to refinance outstanding municipal debt, and accountants  failed to perform the certification analysis correctly to prevent the "Burn" from occurring. The defendants had challenged plaintiffs' demand, timely made on the Cook County State's Attorney, in the view that the County is a municipality of over 500,000 population. the defendants had argued that the County should not be regarded as a "municipality", but rather as an "other entity" for whom the demand should have been made instead on the County Board President. Noting that the purpose of the statute was to ensure that the county is aware of the demand, and that the county was certainly aware, since the State's attorney had entered an appearance in the case months ago, Judge Lindberg believed that it would be elevating form over substance to dismiss the case for this technical issue. Read the opinion
Rifkin, et al. v. Bear Sterns & Co.
U.S.District Court
Northern District of Illinois
Case No. 99 C 3549
November 3, 1999 Opinion of Hon. George W. Lindberg

October 29, 1999 - Consumer - Landlord Tenant Matters - Excessive Late charges. KrislovLaw obtains summary judgment on behalf of certified class of low-income tenants for Landlords’ violation of Illinois Consumer Fraud Act and Chicago Residential Landlord and Tenant Ordinance.

The Circuit Court of Cook County, Chancery Division (Circuit Judge Sidney A. Jones,III), granted summary judgment to a certified class of low-income tenants who were overcharged $20 for late payment of rent, disguised as a “service” charge, and whose rental agreements provided for automatic termination of tenancy, violating both the Illinois Consumer Fraud Act and the Chicago Residential Landlord and Tenants Ordinance. Read the Court’s opinion for more details on this victory for tenants.

August 27, 1999 - KrislovLaw turns tables on insurance companies seeking excessive subrogation amounts! If your health insurer glommed onto your tort recovery without reducing it for your attorneys fees, you may have been overcharged. Recently, in Health Cost Controls v. Sevilla (Illinois Appellate Court, 1st dist. August 27, 1999), the appellate court reinstated our claim against HCC, representative for a number of health insurance companies, which has refused to reduce its health insurance subrogation claims for the attorneys fees that produced the third-party recoveries. The result is the injured party is overcharged.  In this case, HCC sued the injured party and its lawyer. We counterclaimed for the class of all such insureds against all health insurers represented by HCC. HCC then tried to remove the case to federal court, but we had it remanded. They then convinced the state trial court judge to dismiss both their own claim and our counterclaim. Last week, the Illinois Appellate court reversed and reinstated our claim against HCC! This somewhat intricate claim means major dollars to injured consumers. We'll keep you posted as the case develops! However, if you had a tort recovery subrogated by your health insurer, you may have been overcharged. Feel free to contact us.

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July 3, 1999 - Constitutional Rights: KrislovLaw knocks out Illinois restrictions on Candidate Petition Circulators. In a decision that levels the access rules for potential candidates in Illinois, U.S. District Judge Elaine E. Bucklo held that Illinois' statutory restrictions that invalidate signatures on petitions circulated by people who are not registered voters within the particular district, is a violation of the First amendment to the United States Constitution.

The case stems from the ballot challenges made to signatures on Clint Krislov's and Joan Sullivan's petitions from the 1996 elections in which Krislov was running for the United States Senate and Ms. Sullivan was running for the Illinois House of Representatives. The decision essentially levels the field for ballot access for all candidates, whether they have organizational backing or not. Krislov was quoted: "This goes a long way towards eliminating Illinois' artificial byzantine barriers to the ballot, ensuring that the choice of our elected officials will be made by the voters on their ballots, rather than by a set of rules created to force the contenders off the ballot." Read the judge's decision.

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Chicago, IL - June 9, 1999, Krislov & Associates, Ltd. files shareholder class action against   McKESSON HBOC, INC. Notice is hereby given that a class action complaint (the "Complaint"), captioned Ingall v. McKesson HBOC, Inc., et al., Case No. C-99-2724WHO, was filed yesterday in the United States District Court for the Northern District of California on behalf of all persons and entities who have suffered loss as a result of having been issued shares of McKesson HBOC, Inc. ("McKesson") (NYSE: MCK) common stock during the period October 19, 1998 through April 27, 1999, including those whose shares of HBO & Company ("HBOC") (formerly NASDAQ: HBOC) were converted into McKesson HBOC shares following McKesson's January 12, 1999 merger with HBOC (the "Merger").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Clinton A. Krislov or William M. Sweetnam, Krislov & Associates, Ltd., 222 N. LaSalle St., Suite 2120, Chicago, Illinois 60601, by telephone at 312-606-0500 by facsimile at 312-606-0207 or by e-mail at clint@krislovlaw.com.

ERISA- $6.9 million cash plus 20% ownership doubles employees' retirement funds!
Krislov recovers $6.9 million cash plus 20% stock ownership of employer that shortchanged its employee stock ownership plan (ESOP).  In 1992, Aetna Plywood, Inc. bought itself back from its 95% owner ESOP in 1992 for $85.75 per share, far less than fair market value.  At the request of one of the employee plan participants, KrislovLaw analyzed the transaction   identified the undervaluation, and filed a case in federal court in Chicago, seeking a value of $185 per share.  The company took a hardball approach throughout the litigation.  Carrying the case all the way through a three-week trial in February 1998, we obtained a nearly total victory from the judge's finding a value of $155 per share--$72 more per share--producing an average of approximately $60,000 more for each of the 100+ employees--nearly doubling the money in their retirement funds. Following this through post-trial wrangling to avoid the judgment, the company finally settled, producing total benefits of $6.9 million cash PLUS 20% ownership of the company PLUS 25% of certain proceeds in the event the company is sold.

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After 9 years of litigation, KrislovLaw produces $950,000 settlement from Hoyne Savings Bank for misamortizing home mortgage loans by charging interest in advance.
In 1990, KrislovLaw sued Hoyne Savings Bank, asserting that it had overcharged its home mortgage borrowers by charging them interest in advance, on FNMA/FHLMC form notes on which interest should have been charged only in arrears. The practice added about one payment to each loan.   Although the bank was able to drag the dispute out over nine years,  over the complex notion of advance versus arrears interest, we recently obtained a $950,000 settlement, subject to class notice and court approval that will substantially compensate borrowers for their overcharges. Read the settlement online. IF YOU ARE A MEMBER OF THE CLASS, PLEASE EMAIL US WITH YOUR CURRENT ADDRESS, SO YOU DON'T MISS YOUR PAYMENT!

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News- April 23, 1999-- Appellate Court reinstates KrislovLaw Civil RICO count against Allied Waste Services, Inc.
KrislovLaw brought a consumer fraud, breach of contract and civil RICO action against Allied Waste Industries, Inc. and its Chicago-area subsidiary National Waste Services, Inc. for deceptively overcharging garbage collection customers by a bogus 3% charge labeled "Federal Clean Air Fuel Tax Surcharge" which was neither a tax nor a pass through of a charge imposed by the federal government, just a unilateral increase.  We have also challenged the companies' unilateral increases during contract term as violating the contract provisions, which only permit certain proportionate increases.  The trial court upheld the contract and consumer fraud counts of the complaint, but struck the Civil RICO charge on technical grounds.  On April 23, 1999, the Illinois Appellate Court reversed and reinstated the Civil RICO count against both companies. View the entire decision. If you are a garbage collection customer of either Allied or National or their affiliates, email us.

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Scrutiny of the Bounty:
Individual plaintiffs in successful class litigation may be entitled to bounty awards or other incentives to reward them for bringing litigation that benefits a class.

Longshoremen Asbestos Settlement