Singer v. Smith Barney Shearson

ORDER

GONZALEZ, District Judge.

This Cause has come before the Court upon Defendant’s Motion for Summary Judgment, filed on February 16, 1996. The motion has been fully briefed and is ripe for disposition.

Plaintiffs in this action seek redress for the allegedly fraudulent investment advice given to them by employees of Defendant. Plaintiffs initially submitted their claims for arbitration before the National Association of Securities Dealers (“NASD”). On August 8, 1995, the NASD ruled that the majority of Plaintiffs’ claims were barred by Section 15 of the NASD Code of Arbitration Procedure,…