Friday, November 26, 2004
Plaintiff shareholders who claimed they were duped into selling their shares were entitled to take advantage of arbitration provisions, even though they never signed them and even though they had previously brought legal proceedings, according to the U.S. District Court in Maine.
Defendants argued that after bringing the judicial action the plaintiffs should be estopped from now seeking to compel arbitration, but Judge Stewart Dalzell decides instead that it was the defendants, who had previously requested arbitration, who ought to be estopped from changing their tune. Hall v. Internet Capital Group, 2004 U.S. Dist. LEXIS 20149 (D. Maine Oct. 1, 2004).