UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS
September 7, 1994
AHMAD BARAVATI v JOSEPHTHAL LYON & ROSS, INC
The opinion of the court was delivered by: GEORGE M. MAROVICH
It has come to this Court's attention that there is an error in one of our earlier opinions. This error is merely a clerical error which can be corrected pursuant to Fed. R. Civ. P. 60(a) at anytime.
In the opinion in Baravati v. Josephthal Lyon and Ross, 834 F. Supp. 1023 (N.D. Ill. 1993) aff'd, 28 F.3d 704, 1994 U.S. App. LEXIS 16587 (7th Cir. July 1, 1994), the Court states on page 1029:
Furthermore, both Plaintiff and Defendants agreed to submit to the NASD arbitration settlement. In the absence of an express choice of law provision, the FAA prevails. Volt Information Sciences, Inc. v. Board of Trustees, 489 U.S. 468, 477, 109 S. Ct. 1248, 1254, 103 L. Ed. 2d 488. State law may be applied in arbitration matters, subject to preemption, only to the extent that it actually conflicts with federal law.
The final sentence should read instead that state law may be applied in arbitration matters to the extent that it does not conflict with federal law.
This opinion has been affirmed by the Seventh Circuit without any mention of the error, and a reading of the passage in context, as well as a reading of the Volt case, makes it evident that the rest of the opinion stands as a proper interpretation of the concepts of preemption. However, to be accurate, we have issued this order to correct the clerical error in the opinion.
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