Ameriprise Must Arbitrate Despite $100M Deal: 2nd Circ.

Law360, New York (November 3, 2011, 5:34 PM EDT) -- In a case with potentially far-reaching implications, the Second Circuit ruled Thursday that a pair of investors could arbitrate their contract and fraud claims against Ameriprise Financial Services Inc. even though they were part of a $100 million class settlement that mostly released the company from its consent to arbitrate.

Ruling on several previously unsettled issues, a three-judge panel for the appeals court said that while the settlement revoked Ameriprise's prior consent to arbitrate claims covered by the class action, it did not absolve the company...
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