WISE v. WACHOVIA SECURITIES, LLC

No. 05-2640.

450 F.3d 265 (2006)

Lance WISE and Nancy Wise, Plaintiffs-Appellants, v. WACHOVIA SECURITIES, LLC, and Nasd, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided June 7, 2006.


Attorney(s) appearing for the Case

Kenneth K. Ditkowsky (argued), Ditkowsky & Contorer, Chicago, IL, for Plaintiffs-Appellants.

Peter R. Sonderby (argued), Ulmer & Berne, Chicago, IL, Terri L. Reicher, National Association of Securities Dealers Office of the General Counsel, Washington, DC, for Defendants-Appellees.

Before POSNER, RIPPLE, and KANNE, Circuit Judges.


POSNER, Circuit Judge.

Lance and Nancy Wise appeal from the district court's refusal to set aside a decision by a panel of arbitrators that denied them relief. Before proceeding to the merits, we must consider a jurisdictional question mishandled by the parties and the district court. The jurisdictional statement in the plaintiffs' brief bases federal jurisdiction on the Federal Arbitration Act, period. But the Act (9 U.S.C. §§ 1 et seq.) confers...

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