Khan v. Deutsche Bank AG

Illinois Supreme Court
Civil Court
Citation
Case Number: 
2012 IL 112219
Decision Date: 
October 18, 2012
District: 
4th Dist
Division/County: 
Champaign Co.
Justice: 
GARMAN
Holding: 
Appellate court affirmed.
Plaintiffs participated in series of "investment strategies", and filed suit alleging that Defendants defrauded them by marketing and selling investment strategies to them knowing that investments would yield no profit, and would not minimize their tax liability. Five-year limitations period began running when Plaintiffs received a deficiency notice from IRS and thus knew of their injury and its wrongful cause. (FREEMAN, THOMAS, KARMEIER, and BURKE, concurring; THEIS and KILBRIDE, concurring in part and dissenting in part.)