Morgan stanley smith barney app11/30/2023 ¶ 9 On December 2, 2014, in accordance with the SAC and pursuant to plaintiffs' instructions, Morgan Stanley sent plaintiffs advisory program confirmations and agreements. ¶ 8 Additionally, plaintiffs received a fiduciary certification and trust account agreement, which stated "ou acknowledge that you have read, received, understand and agree to the terms of the Client Agreement, and you further agree that the Trust Account is subject to the terms of the Client Agreement." Shortly after receipt, plaintiff signed the investment documents on November 26 and 28, 2014. The attached Client Agreement, which includes a predispute arbitration clause in Section 15, beginning on page 9." (Emphasis omitted.)."By signing below I acknowledge that I have received and agree to be bound by the terms of: The signature pages stated, in bold lettering: Section 15 of the client agreement was identical to section 8 of the SAC. By signing below, you acknowledge receiving a copy of this Agreement." ¶ 7 Plaintiffs received investment documents, including, but not limited to, a client agreement with attached signature pages in late November 2014. ¶ 6 The twelfth page of the SAC, immediately preceding plaintiffs' signatures, stated: "his Agreement contains a predispute arbitration clause (in Section 8 on page 9) under which you agree to arbitrate any disputes with us, and your election on the delivery of trade confirmations set out above. You agree that all claims or controversies *** between you and and/or any of its present or former *** employees concerning or arising from (i) any account maintained by you with individually or jointly with others in any capacity (ii) any transaction involving or any predecessor or successor firms by merger, acquisition or other business combination and you, whether or not such transaction occurred in such account or accounts or (iii) the construction, performance or breach of this or any other agreement between you and us, any duty arising from the business of or otherwise, shall be determined by arbitration before, and only before, any self-regulatory organization or exchange of which is a member." (Emphasis omitted.) All parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury ***. By signing an arbitration agreement the parties agree as follows: "This Agreement contains a predispute arbitration clause. Section 8 of the document reads as follows: Unless or until you give an instruction to open an investment advisory account on your behalf, and you receive written confirmation from us that such an investment advisory account has been opened, your assets will be held in a non-discretionary brokerage account (and you will be responsible for making all security selections). The execution of this agreement alone does not open an investment advisory account. "Please note that the execution of this agreement permits to open an investment advisory account on your behalf at a future date based on your instruction (oral or written) to us to do so. ¶ 5 Section 1 of the SAC provides, in part: Plaintiffs signed a Single Advisory Contract (the SAC) and tendered a check in the amount of $250,000 for future investment services from Morgan Stanley. The parties allegedly agreed on a "conservative, no-risk" plan. ¶ 4 On November 19, 2014, defendants Hohmann and Ahlers, employees of Morgan Stanley, met with plaintiffs about investment opportunities. Following motions to compel arbitration by defendants, the trial court, pursuant to the parties' contracts, stayed plaintiffs' action and ordered arbitration. (West 2016)), common law fraud, and the intentional infliction of emotional distress. Ahlers, alleging violations of the Consumer Fraud and Deceptive Business Practices Act ( 815 ILCS 505/1, et seq. ¶ 2 Plaintiffs, Sidney and Carolann Carrera, brought suit against defendants, Morgan Stanley Smith Barney LLC (Morgan Stanley), David A. ¶ 1 Held: The trial court properly granted defendants' motion to compel arbitration, staying plaintiffs' cause of action. Justices McDade and O'Brien concurred in the judgment. JUSTICE WRIGHT delivered the judgment of the court. Appeal from the Circuit Court of the 10th Judicial Circuit, Peoria County, Illinois, Circuit No. NOTICE: This order was filed under Supreme Court Rule 23 and may not be cited as precedent by any party except in the limited circumstances allowed under Rule 23(e)(1).
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