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LINDELL v. WADDELL & REED, INC.

No. 1:97 CV 74.

962 F.Supp. 103 (1997)

Barbara J. LINDELL, Cynthia L. Nordgberg (formerly Lindell), and Sandra Lindell, Plaintiffs, v. WADDELL & REED, INC., Defendant.

United States District Court, W.D. Michigan, Southern Division.

April 16, 1997.

Attorney(s) appearing for the Case

Vittorio E. Porco, McGinty Jakubiak Frankland, Hitch, and Henderson, P.C., East Lansing, MI, for Barbara J. Lindell, Cynthia L. Nordgberg, Sandra Lindell.

Shaun Michael Murphy, Warner, Norcross & Judd, L.L.P., Grand Rapids, MI, Melanie LaFave, Jaffe, Raitt, Heuer & Weiss, P.C., Detroit, MI, for Waddell & Reed, Inc.

Ronald G. Morgan, Morgan & Fuzak, East Lansing, MI, for defendant Douglas Hedley.

OPINION

ENSLEN, Chief Judge.

This action to enforce an arbitration award pertains to the sale of securities by a member of the National Association of Securities Dealers ("N.A.S.D."). The defendant company has requested in its counter-claim, defenses and motion to vacate the award that the Court vacate the arbitration award pursuant to Section 10(a)(4) of the Federal Arbitration Act because the arbitrators exceeded their authority. For the reasons...

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