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Federal Arbitration Act Fiduciary Duty

The Federal Arbitration Act is a United States federal statute enacted in 1925 that governs arbitration in contracts implicating interstate commerce. The Act applies in both federal and state courts. 
Carlton Fields

Second Circuit Rejects Enforcement of Class Waiver and Arbitration Agreement Under FAA, Finds That Provisions Impermissibly...

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The plaintiff sued the trustee of his retirement plan, his former employer, and others for breach of fiduciary duties in connection with the plan’s purchase of shares of the employer’s parent company for more than fair market...more

Jackson Lewis P.C.

Second Circuit Weighs in Against ERISA Arbitration

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Recently, the Second Circuit became the latest circuit refusing to enforce individual arbitration of an ERISA class action, joining the Third, Seventh, and Tenth Circuits. The Ninth Circuit, by contrast, has held that class...more

Proskauer - Employee Benefits & Executive...

In Split Ruling Second Circuit Declines to Compel Arbitration of ERISA Plan Claims

They say that April showers bring May flowers, but there were no flowers for ERISA plan sponsors and fiduciaries on May 1 when the Second Circuit held, in a ruling that provoked a vigorous dissenting opinion, that an ERISA...more

Kilpatrick

Supreme Court declines to clarify enforceability of mandatory arbitration provisions for fiduciary breach claims

Kilpatrick on

Are mandatory arbitration provisions with class action waivers a solution to the onslaught of class action litigation against 401(k) plans in recent years? Some courts have enforced mandatory arbitration provisions in ERISA...more

Proskauer Rose LLP

Individual Arbitration of ERISA Breach of Fiduciary Duty Claims – Is it Possible and, if So, Is It Worth It?

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As plan sponsors and fiduciaries cope with the increased volume of class action Employee Retirement Income Security Act (ERISA) lawsuits, some have considered the prospects of reducing their exposure through arbitration...more

Morris James LLP

Chancery Dismisses Claims in Favor of Arbitration in Dispute over Sale of Pittsburgh Penguins

Morris James LLP on

Wildfire Productions, L.P. v. Team Lemieux LLC, C.A. No. 2021-1072-PAF (Del. Ch. June 29, 2022) - The Federal Arbitration Act and the public policy of Delaware favor the resolution of disputes through arbitration....more

Fisher Phillips

SCOTUS Review: 8 Key Rulings from Last Term that Impact the Workplace and 3 Issues We’re Watching

Fisher Phillips on

Many employers looked to the Supreme Court last term for clarity in cases with a significant impact on the workplace. The justices continued to shape the employment law landscape by ruling on an array of issues involving...more

Proskauer - Employee Benefits & Executive...

District Court Enforces 403(b) Plan Arbitration Clause with Class Action Waiver But Allows for Plan-wide Non-monetary Relief

A federal district court in Florida sent a proposed ERISA breach of fiduciary duty class action to individual arbitration on the basis of a plan arbitration clause that allowed for individual relief and plan-wide injunctive...more

Seyfarth Shaw LLP

Seventh Circuit Rejects Plan’s Attempt to Compel Individual Arbitration of Participant’s Fiduciary Breach Claims

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Seyfarth Synopsis: Recognizing that the Plan contained an unambiguous arbitration  provision, and that “ERISA claims are generally arbitrable,” the Seventh Circuit Court of Appeals nonetheless found that arbitration could not...more

Faegre Drinker Biddle & Reath LLP

Thinking ESOPs: Enforceability of Arbitration Provisions — There Might Be More to the Analysis

Recently, the Sixth Circuit Court of Appeals held that a plaintiff was required to request attorneys’ fees during an arbitration of an ERISA claims dispute. Having failed to do so, the plaintiff could not subsequently seek a...more

Holland & Knight LLP

Courts Split on Class Action Waivers, Arbitration Provisions in ERISA Litigation

Holland & Knight LLP on

Courts have struggled through the years when considering the enforceability of mandatory class action waivers and arbitration provisions contained within Employee Retirement Income Security Act of 1974 (ERISA) plans and other...more

Skadden, Arps, Slate, Meagher & Flom LLP

2019-20 Supreme Court Update

The U.S. Supreme Court’s 2019-20 term is receiving substantial attention for cases involving signature initiatives of President Donald Trump’s administration. But the Court also maintains an extensive docket directly relevant...more

Carlton Fields

New York Court Compels Arbitration of Commercial Marijuana Dispute

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The defendants moved to compel arbitration of a complex dispute concerning the parties’ investment in medical marijuana companies. The plaintiff claimed that the defendants breached a non-compete agreement and fiduciary...more

Dechert LLP

Arbitrable But Not Capricious: Ninth Circuit Upholds Arbitration Requirement Under ERISA

Dechert LLP on

In Dorman v. Charles Schwab Corp., the U.S. Court of Appeals for the Ninth Circuit held on August 20, 2019 that claims under the Employee Retirement Income Security Act of 1974 (“ERISA”) can generally be subject to mandatory...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Overturns Precedent and Sends ERISA Claims to Individual Arbitration

In a case of first impression, the Ninth Circuit overturned 35 years of precedent and ruled that ERISA class action claims brought on behalf of an ERISA plan are subject to individual arbitration. The Court also enforced the...more

Spilman Thomas & Battle, PLLC

ERISA & Employee Benefits Alert: Ninth Circuit Rules ERISA Claims Subject to Arbitration Provisions

On August 20, 2019, the United States Court of Appeals for the Ninth Circuit overturned its long-standing precedent, and ruled statutory claims under ERISA are subject to arbitration under the Federal Arbitration Act....more

Littler

What Employment Issues did the Supreme Court Address this Term, and What’s in Store for 2019-2020?

Littler on

The Supreme Court’s October 2018-2019 term began with the highly politicized confirmation of Justice Brett Kavanaugh. But despite some expectations that the new makeup of the Court would be more divided than the previous...more

Bass, Berry & Sims PLC

Chris Lazarini Examines Stay of Litigation in Simultaneous Proceedings

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini examined a case in which the plaintiff filed a FINRA arbitration against his broker alleging suitability, breach of fiduciary duty, fraud, failure to supervise, and other claims. The...more

Carlton Fields

Enforcement of DOL’s New Best Interest Contract Exemption’s Anti-Arbitration Condition is Enjoined

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A number of lawsuits have been brought challenging aspects of the United States Department of Labor’s "fiduciary rule," which expanded the definition of "fiduciary" of an employee benefit plan or individual retirement account...more

Proskauer - Employee Benefits & Executive...

Fifth Circuit Vacates DOL Fiduciary Rule

In a 2-1 decision, the U.S. Court of Appeals for the Fifth Circuit vacated the Department of Labor’s fiduciary rule, including the expanded definition of “investment advice fiduciary” and the associated exemptions. The...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - October 2016

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Editor's Overview - This month, we look at the implications of the two federal district court cases from California that applied the ban on discretionary clauses typically found in ERISA plans to self-insured plans. The...more

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