Ameriprise Must Arbitrate Despite $100M Deal: 2nd Circ.

Law360, New York (November 3, 2011, 5:34 PM EDT) -- In a case with potentially far-reaching implications, the Second Circuit ruled Thursday that a pair of investors could arbitrate their contract and fraud claims against Ameriprise Financial Services Inc. even though they were part of a $100 million class settlement that mostly released the company from its consent to arbitrate.

Ruling on several previously unsettled issues, a three-judge panel for the appeals court said that while the settlement revoked Ameriprise's prior consent to arbitrate claims covered by the class action, it did not absolve the company...
To view the full article, register now.