Investors Can't Arbitrate Real Estate Claims: Berthel

Law360, New York (October 21, 2011, 8:19 PM EDT) -- Berthel Fisher & Co. Financial Services Inc. asked a Minnesota federal judge Thursday to declare that it does not have to arbitrate investor claims over $5.3 million in lost real estate investments because shareholders are not customers under rules governing financial service companies.

About a dozen investors trying to force Berthel into arbitration did not buy their shares from Berthel, the company argued, but rather from six other companies that Berthel sold interest in a Minnesota building, meaning they are not customers under Financial Industry Regulatory...
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