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FALCONE BROS. PARTNERSHIP v. BEAR STEARNS & CO.

No. 87 Civ. 8627(KC).

699 F.Supp. 32 (1988)

FALCONE BROTHERS PARTNERSHIP, a Partnership, Edward W. Falcone, and Arthur Falcone, Plaintiffs, v. BEAR STEARNS & CO., INC., Steven Kirsch, and Steven Dantus, Defendants.

United States District Court, S.D. New York.

October 10, 1988.

Attorney(s) appearing for the Case

Nelson F. Zahia, Brizon, Zahia & Stapell, Buffalo, N.Y., for plaintiffs.

Fran M. Jacobs, Shea & Gould, New York City, for defendants.

OPINION AND ORDER

CONBOY, District Judge:

In January 1986, the individual plaintiffs, Edward W. Falcone and Arthur Falcone, opened up separate accounts with defendant Bear Stearns & Co., Inc. ("Bear Stearns") for the purchase and sale of securities and other property. Each account was governed by a written agreement ("Agreement I") which provided in pertinent part as follows:

It is understood that the following agreement to arbitrate does not...

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