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MOLECULAR TECHNOLOGY CORP. v. VALENTINE

Nos. 89-1758, 89-1842 and 89-1843.

925 F.2d 910 (1991)

MOLECULAR TECHNOLOGY CORPORATION, an Ohio corporation; Jafar Behbehani and Michael May, Plaintiffs-Appellants (89-1842), Plaintiffs-Appellees (89-1758), v. Al VALENTINE, Defendant-Appellant (89-1758), Defendant-Appellee (89-1842), Donovan C. Snyder; Moss and Wilkins, Defendants-Appellants (89-1843), Defendants-Appellees (89-1842), Jack Hunter; Jim Fors, Defendants-Appellees, First National Monetary Group, Inc.; First National Securities Corporation, Defendants.

United States Court of Appeals, Sixth Circuit.

Decided February 11, 1991.

Attorney(s) appearing for the Case

Ernest R. Bazzana, Michael J. Barton, Mark L. McGowan (argued), Plunkett, Cooney, Rutt, Watters, Stanczyk & Pedersen, Detroit, Mich., for plaintiffs-appellees.

Walter L. Baumgardner, Jr. (argued), Musilli & Baumgardner, St. Clair Shores, Mich., for Al Valentine.

John L. Hopkins, Jr. (argued), Judith A. Friday, Denenberg, Tuffley, Bocan, Jamieson, Black, Hopkins & Ewald, Southfield, Mich., for Donovan C. Synder and Moss and Wilkins.

Jack Hunter, Southfield, Mich., pro se.

Jim Fors, Bradenton, Fla., pro se.

Before SUHRHEINRICH, Circuit Judge; WELLFORD, Senior Circuit Judge; BELL, District Judge.

SUHRHEINRICH, Circuit Judge.

This appeal arises out of a securities litigation case brought by purchasers of convertible debentures issued by SDE Robotics and Automation Company ("SDE") in 1983 for losses suffered as a result of SDE's April 1984 bankruptcy. The purchasers, Molecular Technology Corporation ("MoTech"), Michael May, and Jafar Behbehani, alleged, inter alia, violations of federal securities laws, 15 U.S.C. § 78j(b) and 17 C.F.R. § 240...

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