Citigroup Global Markets v. Williamson

Filed 3/27/06 Citigroup Global Markets v. Williamson CA2/3

NOT TO BE PUBLISHED IN THE OFFICIAL REPORTS

California Rules of Court, rule 977(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 977(b). This opinion has not been certified for publication or ordered published for purposes of rule 977.

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SECOND APPELLATE DISTRICT

DIVISION THREE

APPEAL from a judgment of the Superior Court of Los Angeles County, Soussan G. Bruguera, Judge. Judgment is affirmed.

Keesal, Young & Logan, Ben Suter and John Cox for Plaintiffs and Respondents.

Steven B. Lehat for Defendant and Appellant.

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An arbitration was held between Jon Williamson and Citigroup.^[1] Citigroup prevailed. Citigroup filed a petition to confirm the arbitration award and Williamson filed a petition to vacate it. The trial court ruled in favor of Citigroup and confirmed the award. Williamson appeals, raising an issue that he failed to raise before the trial court. We affirm. Citigroup seeks sanctions for a frivolous appeal. We deny the motion for sanctions.

FACTUAL AND PROCEDURAL BACKGROUND

Only a brief outline of the facts is necessary to the resolution of this appeal. Williamson suffered losses in the stock market, and believed Citigroup to be responsible. Williamson filed an arbitration claim with the National Association of Securities Dealers Dispute Resolution. An arbitration hearing was held, and, on October 7, 2004, the arbitrators issued an award in favor of Citigroup.

On December 27, 2004, Citigroup filed a petition to confirm the award. On January 14, 2005, Williamson responded with a petition to vacate. Williamson raised several grounds in his petition to vacate. Of relevance to this appeal, Williamson argued that the arbitrators acted â€