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LIBERTY UNIVERSITY, INC. v. KEMPER SECURITIES GROUP, INC.

Civ. A. No. 90-0075-L.

758 F.Supp. 1148 (1991)

LIBERTY UNIVERSITY, INC., Plaintiff, v. KEMPER SECURITIES GROUP, INC., et al., Defendants.

United States District Court, W.D. Virginia, Lynchburg Division.

February 21, 1991.

Attorney(s) appearing for the Case

Norman Roy Grutman, Grutman Greene & Humphrey, New York City, adm. pro hac vice, Harwell M. Darby, Jr., Phillip R. Lingafelt, Glenn, Flippin, Feldmann & Darby, Roanoke, Va., William R. Carney, Warren C. Haskin, Bell, Boyd & Lloyd, Chicago, Ill, adm. pro hac vice, for plaintiff.

Keith D. Boyette, Barry A. Hackney, Hirschler, Fleischer, Weinberg, Cox & Allen, Richmond, Va., Gregory G. Wille, Gibbs, Roper, Loots & Williams, Milwaukee, Wis., adm. pro hac vice, for defendants.

MEMORANDUM OPINION

KISER, District Judge.

In this diversity action the plaintiff, Liberty University, seeks damages arising from the defendants' negligent failure to underwrite and purchase and/or place or distribute $61 million in securities. The defendants' have moved for a stay of these proceedings and have requested that the Court refer the matter to arbitration as provided in the Investment Banking Agreement signed by the parties. The parties presented...

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