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November 6, 2012
VIA ECF The Hon. Joanna Seybert, USDJ The Hon. E. Thomas Boyle, USMJ United States District Court, EDNY 100 Federal Plaza Central Islip, New York 11722
Dear Judge Seybert and Magistrate Boyle: This firm represents the plaintiffs in the above action. Please allow this to serve as opposition to the letter application of defendants requesting that the within matter be referred to arbitration. On another note, however, while the defendants respective motions to dismiss will not be addressed herein but will be the subject of separately filed opposition, as Defendants deny any involvement with the scheme alleged by plaintiffs in their respective letter applications on the arbitration issue, I just wish to note for the Court that not only does the complaint and the voluminous exhibits attached thereto clearly belie any such contention, but also, despite their wholesale, self-serving denials, the defendants do in the same breath admit their participation in, among other things, meetings, et cetera, with respect to plaintiffs investment. In this regard, it is plaintiffs contention that their involvement was as active participants to help sell the plaintiffs on the subject investment transaction for their own personal gain, and not merely as innocent bystanders as they would have this Court believe. Accordingly, the application of defendants for dismissal of this case should be denied. In any event, for the reasons that follow, it is also respectfully submitted that arbitration is not appropriate in this case; and that referring this matter out to arbitration will only serve to prejudice the plaintiffs and serve as a windfall for defendants.
Anthony J Gallo
Anthony J. Gallo, Esq.