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PROSHARES TRUST v. SCHNALL

No. 09 Civ. 6386(SHS).

695 F.Supp.2d 76 (2010)

PROSHARES TRUST, ProShare Advisors, LLC, ProFunds Distributors, Inc., SEI Investments Distribution Co., and Louis Mark Mayberg, Plaintiffs, v. Steven and Sherry SCHNALL, Defendants.

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

February 18, 2010.

Attorney(s) appearing for the Case

David Usher Gourevitch, Law Office of David Gourevitch, P.C., New York, NY, for Plaintiffs.

Scott J. Link, Ackerman, Link & Sartory, P.A., West Palm Beach, FL, Thomas R. Grady, Ackerman, Link & Sartory, West Palm Beach, FL, for Defendants.

OPINION & ORDER

SIDNEY H. STEIN, District Judge.

This is an action for declaratory and injunctive relief to prevent a FINRA arbitration of defendants' claims against plaintiffs from going forward. Because plaintiffs have not entered into any agreement to arbitrate these disputes, because the Schnalls are not "customers" of any plaintiff pursuant to FINRA Rule 12200, and because plaintiffs will suffer irreparable harm if compelled to arbitrate...

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