TaxMasters Class May Have To Arbitrate After Concepcion

Law360, New York (December 22, 2011, 9:39 PM EST) -- A proposed consumer class accusing TaxMasters Inc. of violating the Truth In Lending Act may face arbitration after the Third Circuit on Thursday ordered a district court to reconsider its finding that the arbitration clause used in TaxMasters contracts was unconscionable, citing a recent U.S. Supreme Court ruling.

In March, the lower court denied TaxMasters's motion to compel arbitration, finding that the arbitration clause with the lead plaintiff and other customers was unconscionable under Pennsylvania law.

But on Thursday, the Third Circuit found that the lower...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.