THAYER v. AMERICAN FINANCIAL ADVISERS, INC.

No. 81-557.

322 N.W.2d 599 (1982)

James THAYER, et al., Appellants, v. AMERICAN FINANCIAL ADVISERS, INC., et al., Defendants, and Merrill Lynch, Pierce, Fenner & Smith, Inc., et al., Respondents.

Supreme Court of Minnesota.

August 6, 1982.


Attorney(s) appearing for the Case

Gerald M. Fine, Wayzata, for appellants.

Dorsey, Windhorst, Hannaford, Whitney & Halladay and Stephen P. Kelley, Minneapolis, for Merrill Lynch, Pierce, Fenner & Smith, Inc., et al.

Heard, considered, and decided by the court en banc without oral argument.


AMDAHL, Chief Justice.

This is an appeal from an order of the Hennepin County District Court, dated March 23, 1981, denying plaintiffs' motion for default judgment and staying further proceedings pending arbitration. Plaintiffs, James Thayer and Robert Gilbertson, brought this action against Merrill Lynch, Pierce, Fenner & Smith, Inc. (Merrill Lynch), Robert Gustafson, a Merrill Lynch account executive, Robert Brandt, Robert Schneider, and American Financial Advisers...

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