Nibler v. Monex Deposit Co.
Appellants Monex Credit Company and Monex Deposit Company (Monex) appeal from an order denying a motion to compel arbitration of a dispute with one of its customers, respondent Daniel J. Nibler. Nibler sued Monex, a precious metals trading company in which he had invested an inheritance, for nine causes of action relating to losses suffered through margin trading with Monex. Monex, relying on account documents Nibler signed at the time he invested his money, moved to compel arbitration.
The trial court denied Monex’s motion, finding the arbitration provisions unconscionable. Nibler argues the arbitration provisions here are nearly identical to those at issue in another case involving Monex, Parada v. Superior Court (2009) 176 Cal.App.4th 1554 (Parada). We find, however, that several important changes have been made to the arbitration provisions, including the ability to opt out completely, that preclude a finding of unconscionability. We therefore reverse.
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