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FLOURNOY v. PEYSON

No. 87 C 4849.

701 F.Supp. 1370 (1988)

Ardelbert FLOURNOY and Carline Flournoy, Plaintiffs, v. Walter PEYSON and William Joseph, Defendants.

United States District Court, N.D. Illinois, E.D.

December 5, 1988.

Attorney(s) appearing for the Case

Norman S. Lynn, Cary N. Goldberg, Joel D. Teibloom, Lynn & Levenstein, Ltd., Chicago, Ill., for plaintiffs.

James L. Schwartz, Fuchs, Temple & Berman, Chicago, Ill., for defendant William Joseph.

MEMORANDUM OPINION AND ORDER

SHADUR, District Judge.

Ardelbert and Carline Flournoy (collectively "Flournoys") have sued Walter Peyson ("Peyson") and William Joseph ("Joseph"), asserting:

1. a violation of Securities Exchange Act of 1934 ("1934 Act") § 10(b), 15 U.S. C. § 78j(b), and SEC Rule 10b-5 (collectively "Section 10(b)") arising out of Flournoys' purchase from Peyson of securities in two corporations of which he was President;...

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