ROSS, Circuit Judge.
Jack Hereth appeals from the order of the district court denying his motion to stay proceedings and compel arbitration in this securities fraud case. This court has jurisdiction to review the district court's order as an interlocutory appeal. 28 U.S.C. § 1292(a)(1) (1982); Surman v. Merrill Lynch, Pierce, Fenner & Smith, Inc.,
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