Schafer v. Multiband Corp.

ORDER DENYING PLAINTIFFS’ MOTION TO VACATE, GRANTING DEFENDANT’S MOTION FOR SUMMARY JUDGMENT, AND AFFIRMING ARBITRATOR’S AWARD

THOMAS L. LUDINGTON, District Judge.

In 2008 Defendant Multiband sought to purchase Plaintiffs’ stock in DirecTECH Holding Company. Multiband was informed that the Department of Labor had been investigating certain transactions in 2003 to 2006 regarding the Holding Company’s employee stock ownership plan; indeed, Multiband received detailed reports concerning the investigation. At some point the parties reached an agreement for Multiband’s purchase of Plaintiffs’ stock…