Illinois Appellate Court
Civil Court
Fraud
(Court opinion corrected 12/29/14.) After bench trial, court entered judgment in favor of Plaintiff company for $9.79 million based on breach of fiduciary duty and fraud by Defendant, who had been Plaintiff's President and CEO for 18 years until his termination. Evidence showed that Defendant had submitted fraudulent expense accounts and embezzled company funds. Court properly dismissed Defendant's shareholder inspection claim, as he was seeking company records for his own personal purposes. Monetary damages award and specific performance order were two remedies stemming from different breaches and were not barred by election of remedies doctrine. (DELORT and HARRIS, concurring.)