BLOW v. SHAUGHNESSY

No. 8310SC340.

313 S.E.2d 868 (1984)

Elizabeth BLOW, et al. v. Jeffrey John SHAUGHNESSY, et al.

Court of Appeals of North Carolina.

April 17, 1984.


Attorney(s) appearing for the Case

Harrell & Titus by Bernard A. Harrell, and Akins, Mann, Pike & Mercer by J. Jerome Hartzell, Raleigh, for plaintiffs-appellees.

Hunton and Williams by Odes L. Stroupe, Jr., Raleigh, James E. Farnam, Richmond, Va., and David Dreifus, Raleigh, for defendants-appellants Wheat, First Securities, Inc., Ownley and Folger.

Fleming, Robinson, Bradshaw & Hinson by Richard A. Vinroot and John R. Wester, Charlotte, for defendants-appellants Bache Halsey Stuart Shields, Inc., Walterman and Berry.

Rogers & Hardin by Paul W. Stivers and Janice E. Garlitz, Atlanta, Ga., pro hac vice, and Manning, Fulton & Skinner by Michael T. Medford, Raleigh, for defendants-appellants Merrill Lynch, Pierce, Fenner and Smith, Inc., and Grove.

North Carolina Dept. of Justice by Associate Atty. Gen. Philip A. Telfer, and North Carolina Dept. of State by Roland S. Jones, Raleigh, as amici curiae.

No appearance for defendant Shaughnessy.


EAGLES, Judge.

The issue in this case is whether it was proper for the Superior Court to deny the defendants' motions to stay proceedings in the trial court pending arbitration of the matters raised in plaintiffs' complaint. We hold that it was.

The underlying suit here involves a group of investors, plaintiffs, who are suing the person to whom they allegedly entrusted their money, defendant Shaughnessy, along with three national stock brokerage firms and...

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