7th Circ. Judge Doubts Arbitration Can Resolve ERISA Suit
By Celeste Bott (March 30, 2021, 6:10 PM EDT) -- A Seventh Circuit judge on Tuesday pushed a St. Louis manufacturing company to explain how workers alleging retirement plan mismanagement can use individual arbitration to seek relief including the removal of directors, which would inevitably benefit other participants, when the plan's arbitration provision says any relief can only benefit the claimant.
In oral arguments Tuesday, Triad Manufacturing Co.'s board of directors urged the appellate court to let it push into individual arbitration an Employee Retirement Income Security Act class action alleging retirement plan mismanagement, led by named plaintiff James Smith. All of the relief being sought is available to individual participants...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!