3 Questions After The 9th Circ. Greenlights ERISA Arbitration
By Emily Brill (August 21, 2019, 10:47 PM EDT) -- The Ninth Circuit's decision allowing Charles Schwab Corp. to send a 401(k) plan mismanagement lawsuit to arbitration broke new ground in Employee Retirement Income Security Act law.
The ruling on Tuesday marked the first time an appellate court has said that suits accusing plan managers of failing to properly steward benefit plans can be resolved through arbitration, according to Schlichter Bogard & Denton LLP founding partner Jerry Schlichter, who has watched these suits closely.
But the opinion's impact is uncertain, in part because the court released a key portion as an unpublished, and thus nonprecedential, memorandum. The decision will also likely be...
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