NY Court Won't Make Ex-Brill Brokers Arbitrate OT Feud

Law360, New York (March 15, 2012, 8:43 PM EDT) -- A New York state appeals court ruled Thursday that Brill Securities Inc. could not compel arbitration in an overtime dispute brought by a group of its former stockbrokers, finding the employees' agreement to arbitrate was invalidated in the case of a putative class action.

In a 3-2 decision, the appeals court found that although the stockbrokers had signed agreements under the rules of the Financial Industry Regulatory Authority to arbitrate their disputes with their former employer, the agreement expressly precluded arbitration in the case of a...
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