Upon learning that its former CEO stole nearly a million dollars from it, the plaintiff marketing firm in Adgooroo, LLC v. Hechtman, 2016 IL App (1st) 142531-U, sued its accounting firm for failing to discover the multi-year embezzlement scheme. The accounting firm in turn brought a third-party action against the plaintiff’s bank for not properly …
Tag Archives: contribution
Illinois’ Contribution Law and the ‘Savings’ Statute
Illinois has a 2 year statute of limitations (SOL) for contribution claims. Contribution applies where two or more defendants have common liability to an injured plaintiff. 740 ILCS 100/1 (Illinois’s contribution statute). The idea is that each defendant responsible for injuring a plaintiff should pay his share of liability to the plaintiff. Section 13-204(b) of the …
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