OPINION
BISSELL, District Judge.
This matter arises before the Court on the basis of a motion by defendants John Bogucz, account executive, and Painewebber, Inc. for dismissal of Count II of the complaint (an alleged violation of section 12(2) of the Securities Act of 1933, 15 U.S.C. § 771); and a cross-motion by plaintiff Theodore Panek for a determination that his claim under the same section is not subject to arbitration.
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