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PETERSON v. PHILADELPHIA STOCK EXCH.

July 28, 1989

CHRISTOPHER J. PETERSON
v.
PHILADELPHIA STOCK EXCHANGE, MURRAY L. ROSS, ESQ., and BEAR STEARNS & CO., INC.



The opinion of the court was delivered by: GREEN

 CLIFFORD SCOTT GREEN, UNITED STATES DISTRICT JUDGE

 Presently before me are Philadelphia Stock Exchange (the "Exchange" or "PHLX") and Murray L. Ross's Motion To Dismiss The Amended Complaint, Bear Stearns & Co., Inc.'s ("Bear Stearns") Motion To Dismiss The Amended Complaint, and various responses thereto. For the following reasons, the Motions will be granted, in part, and denied, in part.

 BACKGROUND *fn1"

 The plaintiff, Christopher J. Peterson, is a former officer and employee of Lakshmi Securities Corporation ("Lakshmi"). In 1987, Lakshmi became insolvent and indebted to PHLX, in the amount of $ 18,507.27, and to Bear Stearns for $ 7,437, 257.00. In an attempt to collect on its debt, Bear Stearns attached Mr. Peterson's personal assets, and filed arbitration actions with PHLX and the Chicago Board Options Exchange ("CBOE").

 In 1988, Mr. Peterson sought membership in PHLX in order to secure employment with Setsudo Securities Corporation, an Exchange member. At that time, PHLX, and its employee, Murray L. Ross, informed Mr. Peterson that, under the Exchange's rules, he could not become a member of PHLX unless he satisfied the claims of all Lakshmi creditors. Allegedly, Mr. Ross and Bear Stearns told Mr. Peterson, and others in the investment community, that Mr. Peterson would never work again on the Exchange. That Fall, Mr. Peterson was denied membership by the PHLX Admissions Committee. Mr. Peterson appealed this decision to the PHLX Board of Governors.

 Soon thereafter, Mr. Peterson commenced this action against the defendants. In Count I of the Amended Complaint, Mr. Peterson asserts that the defendants have engaged in an illegal conspiracy in the restraint of trade under 15 U.S.C. §§ 1, and seeks remedies under the Clayton Act, 15 U.S.C. §§ 15, 26. Count II asserts defamation claims against Bear Stearns, and Mr. Ross. Mr. Peterson also claims that all of the defendants tortiously interfered with his contractual and business relationships in Count III of the Amended Complaint. In Count IV, the plaintiff alleges that the defendants acted in violation of the Hobbs Act, 18 U.S.C. § 1951. The Amended Complaint also asserts claims against the defendants based on the Racketeer Influenced and Corrupt Organization Act, 18 U.S.C. §§ 1961-1968. Finally, the plaintiff asks this court to enjoin the defendants from "continuing, maintaining or renewing the combination, conspiracy and/or agreement," and for an order "admitt[ing] [him] to membership with the PHLX." Amended Complaint, para. (C). These requests are based on 18 U.S.C. § 1964, and 15 U.S.C. § 26. *fn2"

 DISCUSSION

 I.

 The defendants move to dismiss the Amended Complaint, pursuant to Fed. R. Civ. P. 12(b)(6), for failure to state a claim. Such dismissal is appropriate only where "it appears beyond doubt that the plaintiff can prove no set of facts in support of his claim which would entitle him to relief." Conley v. Gibson, 355 U.S. 41, 45-6, 78 S. Ct. 99, 102, 2 L. Ed. 2d 80 (1957). In making this determination, the court must accept all factual allegations of the complaint as true, and draw all reasonable inferences in favor of the non-moving party. See 2A G. Grotheer, Jr., J.D. Lucas, & J. Moore, Moore's Federal Practice, para. 12.07[2.-5] (2d ed. 1985). With this in mind, I turn to the defendants' motions.

 Count I

 In Count I, Mr. Peterson asserts that the defendants' conspiratorial actions "constitute unreasonable restraints upon interstate trade and commerce so as to have prevented Plaintiff from carrying on a business on the PHLX or the CBOE," Amended Complaint, para. 20, in violation of the Sherman Anti-Trust Act, 15 U.S.C. § 1. Accordingly, Mr. Peterson seeks damages and injunctive relief under the Clayton Act, 15 U.S.C. §§ 15, 26. For different reasons, the defendants assert that the Amended Complaint fails to state a claim under § 1.

 BEAR STEARNS

 Bear Stearns attacks the Amended Complaint by arguing that Mr. Peterson fails to allege sufficient facts to support his anti-trust claims. Under § 1 of the Sherman Anti-Trust Act, "every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce ...


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