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TECUMSEH v. UNITED STATES SECURITIES & EXCHANGE COMMISSION

United States District Court, N.D. California


July 12, 2004.

SHABAKA TECUMSEH, Plaintiff,
v.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION, E*TRADE SECURITIES, INCORPORATED, WELLS FARGO BANK, INCORPORATED, Defendants.

The opinion of the court was delivered by: SUSAN ILLSTON, District Judge

JUDGMENT

This action has been dismissed in its entirety. Judgment is entered accordingly.

IT IS SO ORDERED AND ADJUDGED. ORDER DISMISSING ACTION

  By order dated November 9, 2001, defendant Securities and Exchange Commission was dismissed from this action, and the claims against defendant E*Trade were referred to binding arbitration pursuant to the mandatory arbitration provision in the Customer Agreement between plaintiff and E*Trade. Defendant Wells Fargo Bank thereafter submitted to arbitration. After some delay, all parties signed a Waiver Agreement concerning the provisions of California Civil Code Section 1542 and the California Standards for Neutral Arbitrators.

  The matter was arbitrated, see In the Matter of the Arbitration between: Shabaka Tecumseh, Claimant vs. E*Trade Securities LLC and Wells Fargo Bank NA, Respondents, Case. No. 01-07084, and a hearing was held in San Francisco on June 24, 2004. On June 29, 2004, the arbitration panel issued its Award — NASD Dispute Resolution. All matters presented for decision in the arbitration have now been decided.

  On July 1, 2004 this Court issued its Order to Show Cause why this action should not be dismissed. Plaintiff Tecumseh filed a response, generally objecting to the "NASD Arbitration forum" and asserting that the arbitration panel was not equipped to handle this case. Plaintiff complains that "[i]n the Panel's decision they concluded that this was not `Racial' discrimination when plaintiff agrees because it is not about `race' which implies color and the assumption that African Americans adhere to the dominate European culture (i.e.: adoption of ancestral European names) but culture which implies epistemology and ontology along with concomitant class status which determines cultural status."

  It appears that all claims have been fully arbitrated and finally decided by the NASD arbitration panel. No cause has been shown why this matter should not now be dismissed with prejudice. Accordingly, this action is DISMISSED.

  IT IS SO ORDERED.

20040712

© 1992-2004 VersusLaw Inc.



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