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PERRY v. ICN PHARMACEUTICALS

UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK


October 28, 1994

D.C. PERRY, Plaintiff, against ICN PHARMACEUTICALS, et al., Defendants

VINCENT L. BRODERICK, U.S.D.J.

The opinion of the court was delivered by: VINCENT L. BRODERICK

ORDER

VINCENT L. BRODERICK, U.S.D.J.

 WHEREAS, by notice of motion dated July 16, 1994 defendants Prudential Securities Incorporated ("PSI") and John McEnroe ("McEnroe") moved this Court for an order compelling plaintiff D.C. Perry to arbitrate his claims against PSI and McEnroe (the "Motion"); and

 WHEREAS, the Court having read and considered the affidavit of Andrew Sidman, Esq., sworn to July 26, 1994 together with the exhibits attached thereto, and the Memorandum of Law dated July 26, 1994, all submitted in support of the Motion; and

 WHEREAS, the Court having read and considered the affidavit of Gordon Dempsey, Esq., sworn to August 12, 1994 together with the exhibits attached thereto, and the Memorandum of Law dated August 22, 1994, all submitted in opposition to the Motion; and

 WHEREAS, the Court having read and considered the Reply Memorandum of Law dated September 12, 1994, submitted in further support of the Motion; and

 WHEREAS, after due deliberation on the papers submitted in support of and in opposition to the Motion, and the Court having decided the Motion by written Memorandum Order dated September 20, 1994;

 Now on motion of Butler, Fitzgerald & Potter A Professional Corporation, attorneys for PSI and McEnroe, it is

 ORDERED, that plaintiff's claims against PSI and McEnroe in this action be and are permanently stayed, pending plaintiff's commencement of an arbitration against SSI and McEnroe before the National Association of Securities Dealers, Inc. in accordance with plaintiff's forum selection pursuant to the Client's Agreement between plaintiff and PSI dated December 5, 1986 and a latter dated July 29, 1994 from Gordon Dempsey, Esq. to Andrew Sidman, Esq., responding to a letter dated July 22, 1994 from Andrew W. Sidman, Esq. to Gordon Dempsey, Esq., copies of which are annexed as Exhibits A, B and C respectively.

 IT IS FURTHER ORDERED that plaintiff's claims against ICN and McEnroe shall thereafter be dismissed with prejudice ten (10) days after receipt by the Clerk of this Court of notification of plaintiff's commencement of an arbitration in accordance with the foregoing documents.

 SO ORDERED

 Dated: White Plains, N.Y

 October 28, 1994.

 /s/ VINCENT L. BRODERICK, U.S.D.J.N

19941028

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