Fed. Sec. L. Rep. P 99,155 Richard Atchley v. Qonaar Corporation

CUMMINGS, Chief Judge.

In February 1982, the three named plaintiffs, Richard and Donna Atchley and Joyce Guiñe, filed a second amended complaint on behalf of themselves and all shareholders of Qonaar Corporation, a Delaware corporation whose principal place of business was in the Northern District of Illinois. Jurisdiction was predicated upon Section 10(b) of the Securities Exchange Act of 1934 (15 U.S.C. § 78j) and Section 14 of the Williams Act (15 U.S.C. § 78n). Plaintiffs alleged the following:

Until 1981, defendant Qonaar was a publicly held corporation with its stock traded over the…