How 2nd Circ. Ruane ERISA Suit Reversal Affects Arbitration

Law360 (March 25, 2021, 6:36 PM EDT) -- The U.S. Court of Appeals for the Second Circuit, in a significant decision, recently ruled that Employee Retirement Income Security Act breach of fiduciary duty claims are not subject to arbitration under an arbitration agreement with the employer plan sponsor.[1]

The decision in Cooper v. Ruane Cuniff & Goldfarb Inc. reverses a New York district court's order to compel arbitration.

The appellate court emphasized that the arbitration agreement the employee, Clive Cooper, signed when he was hired only banned him from filing claims in court related to his employment, not ERISA claims alleging breach of fiduciary duty which, according to the court,...

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