![]() Title 9 of the United States Code, Section 2, the Federal Arbitration Act, provides in pertinent part: A written provision in any maritime transaction or a contract evidencing a transaction involving commerce to settle by arbitration a controversy thereafter arising out of such contract or transaction or the refusal to perform the whole or any part thereof, or an agreement in writing to submit to arbitration an existing controversy arising out of such a contract, transaction, or refusal, shall be valid, irrevocable, and enforceable, save upon such grounds as exist at law or in equity for the revocation of the contract. When plaintiffs opened a securities account with Smith Barney, they signed a written agreement in which they agreed to arbitrate "ny controversy between Smith Barney and arising out of or relating to this contract or the breach thereof." See Exhibit A to Motion to Compel Arbitration. For the following reasons, said Motion is GRANTED as to the state law claims, Counts II, III, and IV, but DENIED as to the federal securities claim, Count I. Smith Barney has moved this Court for entry of an Order staying this action and compelling plaintiffs to submit their claims to arbitration in accordance with their contractual agreement with Smith Barney and pursuant to the mandate of the Federal Arbitration Act, 9 U.S.C. ![]() ยง 78j(b), and Rule 10b-5 thereunder and realleging the three state law claims from the original complaint (Counts II, III and IV). Plaintiffs then filed a four count amended complaint adding as Count I a claim under Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. Plaintiffs' original complaint alleged that Smith Barney was negligent and charged Smith Barney with civil theft by alleged misrepresentations and "churning" in connection with Plaintiffs' stock brokerage account. On April 12, 1985, Plaintiffs' state court action was removed to this Court, pursuant to a petition for removal filed by the defendant. ("Smith Barney"), in the Circuit Court of the Eleventh Judicial Circuit in and for Dade County Florida. Plaintiffs, Jose Miguel Rojas Cancanon and Elizabeth Ponce Luzardo, originally filed a three count complaint against the defendant, Smith Barney, Harris Upham & Co., Inc. ![]() ![]() MEMORANDUM OPINION AND ORDER GRANTING RENEWED MOTION TO COMPEL ARBITRATION AS TO COUNTS II, III, AND IV AND DENYING RENEWED MOTION AS TO COUNT I SMITH BARNEY, HARRIS UPHAM & CO., INC., Defendant. Jose Miguel ROJAS CANCANON and Elizabeth Ponce Luzardo, his wife, Plaintiffs, ![]()
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