Illinois Appellate Court
Civil Court
Arbitration
(Court opinion corrected 12/11/10.) Plaintiff invested in auction rate securities from Defendants, lost a large amount of money from the investment, and sued Defendant, which then filed motion to compel arbitration or, alternatively, to stay litigation pending resolution of class action filed against it in New York. Court stayed action, and properly denied motion to lift stay, as a stay is appropriate where another action on same subject matter is pending. Court was entitled to favor arbitration by staying the case. (HOLDRIDGE, specially concurring; SCHMIDT, dissenting.)