Illinois Supreme Court
Civil Court
Statute of Limitations
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.)