Goldman, Sachs & Co. v. City of Reno
Court of Appeals for the Ninth Circuit
1Opinion of the Court
OPINION
BYBEE, Circuit Judge:
In 2005 and 2006, the City of Reno issued approximately $211 million in complex securities and employed Goldman, Sachs & Co. (“Goldman”) as its sole underwriter and broker-dealer. Years after Reno’s financing collapsed, Reno initiated an arbitration before the Financial Industry Regulatory Authority (“FINRA”) to resolve its claims against Goldman arising out of their contractual relationship. Goldman then filed this action to enjoin the FINRA arbitration, arguing that (1) Reno was not a “customer” entitled to arbitrate under FINRA Rule 12200 and (2), at any rate,…
2Cases cited25 opinions
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