Richard Rennell, Jr., et al v. Randall Rowe, et al, No. 10-1388 (7th Cir. 2011)
Annotate this CaseIn 2007 Rowe paid Rennell about $300,000 for his interest in a joint venture that managed manufactured housing communities. Rennell viewed the transaction as extortion and filed suit under the Racketeer Influenced and Corrupt Organizations Act (RICO). The District Court dismissed. The Seventh Circuit affirmed, reasoning that the agreements at issue were terminable without cause and Rowe did nothing more than engage in "hard bargaining" to reduce the amount he paid upon termination. Rennell had the choice of accepting the amount offered or suing for breach of contract. Rowe's "threat" to publicize the termination may have amounted to economic duress or breach of a contractual duty of good faith, but did not amount to extortion.
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