United States Seventh Circuit
Prime Eagle Group Ltd. v. Steel Dynamics, Inc., 09-1663
In a steel mill company's assignee's suit against a defendant, who had contracted with the company to help develop running a steel mini-mill located in Thailand and to lend assistance in raising capital, claiming that it chose fraud as its means of exit and must pay damages in tort, district court's entry of judgment for defendant in concluding the suit untimely under the six-year statute of limitations in Indiana is affirmed as the company's president's knowledge is imputed to the company and thus, the company knew in fall 1998 that defendant's assertions were false, or at least questionable enough to justify an investigation. Therefore, the company's injury began no later than July 1999 when its investors withdrew their support, left the plant idle, and threw the firm into insolvency.
Appellate Information
- Argued 10/08/2009
- Decided 07/27/2010
- Published 07/27/2010
Judges
Court
- United States Seventh Circuit