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FIRST OF MICHIGAN CORP. v. TRUDEAU

Docket No. 210296.

603 N.W.2d 116 (1999)

237 Mich. App. 445

FIRST OF MICHIGAN CORPORATION, and John Amrozi, Plaintiffs-Appellants, v. Joseph A. TRUDEAU, and Helen Trudeau, Defendants-Appellees.

Court of Appeals of Michigan.

Decided September 10, 1999, at 9:00 a.m.

Released for Publication December 21, 1999.

Attorney(s) appearing for the Case

Miller, Canfield, Paddock and Stone, P.L.C. (by Michael P. Coakley, Thomas R. Cox, and James M. Pelland), Detroit, for the plaintiffs.

Weisman, Trogan, Young & Schloss, P.C. (by Anthony V. Trogan, Jr.), Bingham Farms, for the defendants.

Before: ZAHRA, P.J., and SAAD and COLLINS, JJ.

SAAD, J.

I

NATURE OF THE CASE

The arbitration codes for each of the securities self regulatory organizations, including the New York Stock Exchange (NYSE), provide that the investor is contractually obliged to bring an arbitral claim against his broker within six years of the alleged wrongful conduct ("event giving rise to the claim"). Our Court has held that an identically worded six-year rule is not a statute of limitation, but rather an eligibility...

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