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...

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