Investors who say they lost $2 million in a deal promoted by DeWaay Financial Network LLC have dropped efforts to force the Clive company into arbitration to collect the funds, according to a document filed Monday in U.S. district court in Delaware.

DeWaay Financial Network had sought a court order to block arbitration hearings before the Financial Industry Regulatory Authority, saying in court records it faced more than $4 million in judgments and fees, enough to force the brokerage into bankruptcy. The company sold private placements in real estate deals put together by DBSI Inc., an Idaho company that folded in 2008 after raising more than $1 billion through independent brokers such as DeWaay Financial Network.

The high-risk, high-return deals enjoyed success prior to the collapse of real estate and financial markets. So far, eight investors who were brought to the deals by DeWaay Financial Network have settled their claims with the company or have dropped efforts to force the company into arbitration.

A federal court trustee is attempting to collect millions of dollars in investments in DBSI entities that were placed by DeWaay Financial Network and other broker-dealers.