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Liu v. TD Ameritrade Inc.

Valid Agreement to Arbitrate was 2008 SBAA, not Successor's Client Account

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MEMORANDUM & ORDER   Plaintiff Xue Qin Liu brings this suit against Defendant TD Ameritrade, Inc. alleging violations of the Electronic Fund Transfer Act, 15 U.S.C. §1693 et. seq., and New York General Business Law §349. (Compl. (Dkt. 1) 6.) Plaintiff’s claims are based on Defendant’s failure to adequately investigate unauthorized transactions on Plaintiff’s account and Defendant’s allegedly deceptive claim that it had conducted an adequate investigation. (Id.

4, 50-51, 56.) Before the court is Defendant’s motion to compel arbitration and stay further proceedings pending the completion of arbitration. (Not. of Mot. (“Mot.”) (Dkt. 17).) For the following reasons, Defendant’s motion is GRANTED PART and DENIED IN PART. Specifically, the motion is granted insofar as it seeks to stay proceedings and compel arbitration pursuant to the original Scottrade Brokerage Account Agreement. In all other respects, the motion is DENIED. I. BACKGROUND A. Statement of Facts Unless otherwise noted, the following facts are undisputed. Where the facts are disputed, the court notes the dispute and credits Plaintiff’s version of the facts if it is supported by the record. See Meyer v. Uber Techs., Inc., 868 F.3d 66, 74 (2d Cir. 2017) (“Courts deciding motions to compel…draw[] all reasonable inferences in favor of the non-moving party.”).1 1. Plaintiff’s Contract with Scottrade and the Transition to TD Ameritrade In September 2008, Plaintiff opened a bank account with Scottrade, Inc. (“Scottrade”) and signed the Scottrade Brokerage Account Application. (Scottrade Brokerage Account Appl. (“Scottrade Appl.”) (Dkt. 17-3).) The Scottrade Application included reference to, and was accompanied by, the Scottrade Brokerage Account Agreement (“SBAA”). (Scottrade Appl. at 2; Decl. of C. Derbak (Dkt. 17-2) 6.) The SBAA includes a pre-dispute arbitration clause at paragraphs 28-29, and the Scottrade Application explicitly references the SBAA’s arbitration provisions directly above the signature line. (SBAA (Dkt. 17-4)

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