Ex-Lehman CEO Must Arbitrate Breach Claims: Court

Law360, New York (April 21, 2010, 6:32 PM EDT) -- Former Lehman Brothers Inc. head Richard Fuld will have to arbitrate claims that he breached his fiduciary duty to a Florida charity group after a federal judge rejected his claim that he was never party to a binding agreement.

Of the seven claims the Booth Foundation brought accusing Fuld of breach of fiduciary duty, breach of contract and violations of the Securities Act of 1933, six are arbitrable under Financial Industry Regulatory Authority rules, according to U.S. District Judge Lewis A. Kaplan of the Southern District...
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