Students active in Pace Law School’s Investor Rights Clinic filed an amicus brief in support of a an investor who is seeking to have his case heard by the Supreme Court of the United States.
As reported in the Pittsburgh “Post-Gazette,” the Pace Law students joined with law students from the University of Pittsburgh in support of a case involving an investor seeking damages from Bear Stearns. After the investor’s claims had been denied by a panel of arbitrators, he took his case to the U.S. District Court citing what he believes to be a conflict of interest on the part of one of the arbitrators. The federal court did not set aside the arbitration decision and the students disagree with that position.
“It’s an issue that we think is in dire need of addressing,” said Jill Gross, director of Pace’s investor rights clinic. “[Mr. Stone] was supposed to get a neutral panel of arbitrators. He did not get a neutral panel of arbitrators and he lost.”
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