Cotter v. Shearson Lehman Hutton, Inc.

MEMORANDUM OPINION AND ORDER

SPRIZZO, District Judge:

In this action, plaintiffs move for a stay of arbitration and expedited discovery, or in the alternative for discovery in aid of arbitration. Defendants move to stay the action in favor of arbitration and to compel arbitration, or in the alternative to dismiss the complaint. For the reasons that follow, the motions to stay this action and to compel arbitration are granted and all other motions are denied.

Plaintiffs claim that defendants engaged in the unauthorized trading of options in their account at Shearson Lehman Hutton, Inc.…