Arbitration—allegations of misrepresentation

Our firm represented a retired dentist who had sold his practice to a younger dentist. About a year after the transaction closed, the buyer alleged that our client had misrepresented the practice’s finances and patient base. Because the purchase agreement included an arbitration clause, the case was presented to an arbiter, and a decision was issued late last October. The buyer demanded damages of $132,000 but was awarded just $5,000.