Katal v. Integrated Products and Services
Plaintiffs are the former owners of a fire and security services company. Plaintiffs sold their company to the defendants pursuant to a purchase agreement requiring the arbitration of disputes arising out of the agreement.
Plaintiffs filed an action for breach of contract claims against defendants alleging defendants failed to provide reasonable access to accounting information related to the defendants’ claim of a post-closing purchase price adjustment. Defendants moved to compel arbitration. The motion was granted. Defendants then brought several accounting related breach of warranty claims against the plaintiffs.
The arbitrator found in defendants’ favor and awarded them damages. Plaintiffs petitioned the trial court to vacate or correct the award. The trial court denied the petition, confirmed the award and entered judgment. The plaintiffs filed this appeal.
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