Sacco v. Prudential-Bache Securities, Inc.

MEMORANDUM AND ORDER

VAN ANTWERPEN, District Judge.

This matter comes before the court on defendants’ Motion to Stay Proceedings pending arbitration and Defendants’ Motion to Stay Discovery. The action arises out of defendants’ alleged “churning” and mismanaging plaintiff Columbus Sacco’s securities account. For the reasons stated below, defendants’ motion to stay proceedings will be granted in part and denied in part; defendants’ motion to stay discovery will be denied.

FACTS

Plaintiff opened a securities account with defendant Prudential-Bache Securities, Inc. (“Pru-Bache”) to which it assigned…