Credit: andranik123/Adobe Stock 10th Circuit Upholds 'Effective Vindication Exception' to Invalidate Arbitration Provisions in ESOP
"Indeed, it is not clear what remedies Harrison would be left with if Section 21(b) is enforced as written," the judge wrote. "And, in fact, Section 21(b) effectively prevents any claimant from pursuing the types of claims that Harrison asserts in his complaint."
February 14, 2023 at 04:26 PM
6 minute read
Investments and Investment Advisory
The U.S. Court of Appeals for the Tenth Circuit agreed with a district court's conclusion that, by enforcing an arbitration provision contained in a defined contribution retirement plan, the plaintiff plan participant would be prevented from "effectively vindicating" the statutory remedies sought in his complaint.
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