Leicht v. Bateman Eichler

848 F.2d 130 Fed. Sec. L. Rep. P 93,785 Thomas R. LEICHT and Susan L. Leicht, Plaintiffs-Appellants, v. BATEMAN EICHLER, HILL RICHARDS, INCORPORATED, a Delaware corporation, and Douglas Haydon, Defendants-Appellees. No. 87-6264. United States Court of Appeals, Ninth Circuit. Argued and Submitted April 6, 1988. Decided June 1, 1988. As Amended on Denial of Rehearing Aug. 9, 1988. Larry F. Gitlin, Rapkin, Gitlin, Moser & Schwartz, Tarzana, Cal., for plaintiffs-appellants. Steven P. Rice, Kindel & Anderson, Los Angeles, Cal., for defendants-appellees. Appeal from the United States District Court for the Central District of California. Before TANG, FLETCHER and PREGERSON, Circuit Judges. PREGERSON, Circuit Judge: 1 The Leichts appeal the district court's decision dismissing their federal securities action and compelling arbitration pursuant to Shearson/American Express, Inc. v. McMahon, --- U.S. ----, 107 S.Ct. 2332 , 96 L.Ed.2d 185 (1987). The Leichts argue that the district court erred in compelling arbitration because, unlike the parties in McMahon, the parties in this case did not contract to arbitrate federal securities disputes. We affirm in part, reverse and remand in…