In response, Defendants filed a Joint Motion to Dismiss in Favor of Arbitration. Defendants allege that Sena signed a valid arbitration agreement that requires him to submit all of his claims to binding arbitration, precluding suit in a judicial forum. This Court agrees with Defendants' contentions and therefore grants Defendants' Motion. To open his account, Sena signed a series of blank forms including a Client Agreement, Options Account Information Form, and a New Account Form.
Arbitration is final and binding on the parties.
The parties are waiving their rights to seek remedies in court, including the right to jury trial. Pre-arbitration discovery is generally more limited and different from court proceedings. The arbitrator's award is not required to include factual findings or legal reasoning and any party's right to appeal or to seek modification of rulings by the arbitrators is strictly limited. The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry. Any such arbitration shall be held before facilities of the New York Stock Exchange, Inc., the National Association of Securities Dealers, Inc. or any other self-regulatory organization having jurisdiction, as I may elect, and shall be conducted pursuant to applicable Federal laws, the laws of the State of New York, without regard to conflict of laws, and the rules of the selected arbitral facility.