Advest, Inc. v. Wachtel

OPINION OF THE COURT

Barry A. Cozier, J.

Petitioners, Advest, Inc. (Advest) and Billings & Co., Inc. (Billings), bring this proceeding pursuant to CPLR article 75 for an order permanently staying the arbitration commenced by respondents before the National Association of Securities Dealers (NASD) on the grounds that: (1) respondents allegedly waived their right to arbitration by commencing and participating in a prior judicial action in Connecticut on the same claims they seek to arbitrate; (2) the claims are barred under applicable Federal and State Statutes of Limitation; and (3) respondents…