Sease v. PaineWebber, Inc.

ORDER

NESBITT, District Judge.

This cause is before the Court on Defendant PaineWebber, Incorporated’s (“Pai-neWebber”) Motion to Compel Arbitration and to Stay Action. The Court has considered the memoranda of counsel and the applicable law and being otherwise duly advised rules as follows.

BACKGROUND

By their complaint, Plaintiffs allege that Peter Butler (“Butler”), while employed as a security analyst at PaineWebber, purchased a substantial quantity of stock in Memory Metals, Inc. (“Memory Metals”), an over-the-counter stock. The complaint alleges that Butler together with Memory Metals…