Court of Appeals for the Fifth Circuit July 30, 1991, 90-1744, 90-1745 (William G. Walker and Sandra O. Walker v. J.C. Bradford & Co., Milburn L. Bryant, Mary C. Bryant and Sandra L. Bryant v. J.C. Bradford & Co.)

KING, Circuit Judge:

Plaintiffs seek damages for various state securities law violations that the defendant allegedly committed. Thirteen months after plaintiffs filed suit, defendant filed a motion to compel arbitration and to stay proceedings. The district court denied the defendant’s motion on the ground that defendant had waived its right to arbitration.