Fed. Sec. L. Rep. P 94,489 Frederick W. Gooding v. Shearson Lehman Brothers Inc. And Phillip J. Failla, Frederick W. Gooding v. Shearson Lehman Brothers Inc. And Phillip J. Failla

878 F.2d 281 Fed. Sec. L. Rep. P 94,489 Frederick W. GOODING, Plaintiff-Appellee, v. SHEARSON LEHMAN BROTHERS INC. and Phillip J. Failla, Defendants-Appellants. Frederick W. GOODING, Plaintiff-Appellant, v. SHEARSON LEHMAN BROTHERS INC. and Phillip J. Failla, Defendant-Appellee. Nos. 88-5506, 88-5509. United States Court of Appeals, Ninth Circuit. Argued and Submitted Nov. 4, 1988. Decided June 23, 1989. Robert H. Logan, Keesal, Young & Logan, Long Beach, Cal., for Shearson Lehman Bros. Inc., and Phillip J. Failla. Melanie A. Calvert, Pasadena, Cal., for Frederick W. Gooding. Appeal from the United States District Court for the Central District of California. Before FLETCHER, ALARCON and KOZINSKI, Circuit Judges. ALARCON, Circuit Judge: 1 Shearson Lehman Brothers, Inc. and Phillip J. Failla, a broker then employed by Shearson, (collectively referred to as Shearson) appeal (No. 88-5506) from the district court's denial of its motion to compel arbitration of the federal securities claims. Frederick W. Gooding (Gooding) cross appeals (No. 88-5509) from the portion of the order granting Shearson's motion to compel arbitration of state law claims and the stay of further proceedings…