Wakaya Perfection securities fraud lawsuit sent to arbitration
In response to a lawsuit that alleged $250,000 in securities fraud, Wakaya Perfection filed a Motion to Dismiss.
Stated reasons in the motion were for a lack of jurisdiction, or in the alternative compel the parties to resolve the matter via arbitration.
On January 14th Wakaya Perfection’s Motion to Dismiss was granted in part.
As per the January 14th order, the court ruled that all of Essence Skin Clinic’s and owner Jennifer Sannerman’s ‘claims are covered by the arbitration provision‘.
The provision referred to was in the investment contract she entered into.
At this time the court doesn’t appear to have taken into consideration that the contract itself might be fraudulent, only stating that
Plaintiffs’ arguments that their claims are unrelated to the arbitration provision are unpersuasive.
It is also unclear whether this will have any effect on arbitration.
In the meantime the court has stayed proceedings pending the outcome of arbitration. Stay tuned…