AMTOWER v. RONEY & CO.

Docket No. 211717.

590 N.W.2d 580 (1998)

232 Mich. App. 226

Franklin AMTOWER, John Barbuscak, Sally Boukma, Personal Representative of the Estate of Louise Allen, Richard Bumb, Richard Cummings, Roger Davis, Thomas Deagostino, Vajendra Desai, Dewane Englerth, David Farber, Jeffrey Farber, Carl Freeman, Patricia Hutchinson, James Jolliffe, George Krull, Gary Lambert, Theo Merrill, Mazhar Munir, Thomas Nawrot, Leone Richardson, Paul Tatseos, John Tracy, Barry Miller, Dennis Chagnon and John Christ, Plaintiffs-Appellants, v. WILLIAM C. RONEY & CO. d/b/a Roney & Co., Defendant-Appellee.

Court of Appeals of Michigan.

Decided October 16, 1998, at 9:10 a.m.

Released for Publication January 15, 1999.


Attorney(s) appearing for the Case

Fieger, Fieger & Schwartz (by Geoffrey N. Fieger and Rebecca S. Eaton), Southfield, for the plaintiffs.

Honigman Miller Schwartz and Cohn (by Raymond W. Henney and Steven M. Ribiat), Detroit, for the defendant.

Before CORRIGAN, C.J., and HOLBROOK, Jr. and YOUNG, Jr., JJ.


ON REMAND

YOUNG, Jr., J.

This case involves claims arising out of infelicitous securities investments in which defendant advised plaintiffs to participate. As a part of these investment transactions, plaintiffs executed customer agreements providing that any claims against defendant arising from the investments must be submitted to binding arbitration within one year of the accrual of the cause of action.

Plaintiffs sued and defendant moved to dismiss...

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