Isabel Romeu Vda, De Fuertes v. Drexel, Burnham, Lambert, Inc.

Plaintiffs brought an action seeking the delivery of securities allegedly illegally detained by defendants. Defendants, relying on a margin agreement calling for arbitration of disputes, moved to refer the controversy to arbitration. Plaintiffs opposed arbitration. They contended the purported margin agreement was not valid for a number of reasons, including forgery of a plaintiff’s signature. The parties agreed to trial before a magistrate. (Docket entry 69.) The magistrate then reviewed the evidence and issued an opinion concluding that the margin agreement was valid and binding.…