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IDS LIFE INS. CO. v. ROYAL ALLIANCE ASSOCIATES

No. 00-2009.

266 F.3d 645 (2001)

IDS LIFE INSURANCE COMPANY and American Express Financial Advisors, Inc., Plaintiffs-Appellants, v. ROYAL ALLIANCE ASSOCIATES, INC., et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided September 12, 2001.

Attorney(s) appearing for the Case

Eric D. Brandfonbrener (argued), Grippo & Elden, Chicago, IL, for Plaintiffs-Appellants.

Michele Odorizzi (argued), Mayer, Brown & Platt, Chicago, IL, Thomas M. Campbell, Smith, Campbell & Paduano, New York, NY, for Defendants-Appellees.

Before POSNER, EASTERBROOK, and RIPPLE, Circuit Judges.

POSNER, Circuit Judge.

The plaintiffs appeal from an order confirming a decision by an arbitration panel that denied the plaintiffs all the relief they had sought. The plaintiffs are a securities broker-dealer and a life insurance company, both owned by American Express and both members of the National Association of Securities Dealers (the insurance company sells variable annuities, which are considered securities). The defendants are broker-dealers that compete...

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