Wells Fargo Wins Round In Investor Arbitration Appeal

Law360, Philadelphia (December 7, 2012, 5:08 PM EST) -- A Pennsylvania appeals court ruled Thursday that a state judge erred when he vacated an arbitrator's award based on an investor's claims there was no arbitration agreement between him and his Wells Fargo broker, finding the judge lacked statutory authority.

The investor, Sanford Schwarz, had sought to pursue his claims against Wells Fargo Advisors LLC in court. But the three-judge panel’s decision means that, for the time being, he remains stuck with a nominal award from the arbitration panel.

The appeals court emphasized that Pennsylvania’s Uniform...
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