Applied Energetics, Inc. v. NewOak Capital Markets, LLC

This case stemmed from an Engagement Agreement entered into by petitioner, a developer and manufacturer of military technology, with respondent, an independent broker dealer, by which respondent agreed to act as petitioner's exclusive placement agent in an anticipated $20 million private offering of petitioner's securities to finance its anticipated development of a field-deployable vehicle. Petitioner subsequently appealed the district court's final order and judgment compelling arbitration of the claims of respondent before the Financial Industry Regulatory Authority. The court held that because the parties expressly agreed to adjudicate their disputes before a court, the court reversed and remanded the judgment of the district court.