Milton L. Osterneck v. Merrill Lynch, Pierce, Fenner & Smith, Inc. And William Lampe

OPINION OF THE COURT

SLOVITER, Circuit Judge.

The question on appeal is whether a claim may be maintained for violation of the Pennsylvania Securities Act notwithstanding an agreement to submit such claims to arbitration. The district court refused to submit to arbitration a claim of violation of the Pennsylvania Securities Act because it construed a provision of that Act as forbidding judicial enforcement of prior agreements to arbitrate such claims. We conclude that recent Supreme Court precedent applying the Federal Arbitration Act requires a different result.

I

Background

Plaintiff Milton…