Arbitration Provision In ERISA Plan Is Not Valid, Amici Tell 7th Circuit

Mealey's (January 29, 2021, 11:59 AM EST) -- CHICAGO — A district court’s ruling that an arbitration provision in an employee stock ownership plan is not valid because the arbitration provision forbids remedies that are authorized under the Employee Retirement Income Security Act and because the plan participants did not consent to the arbitration provision must be affirmed because arbitration of ERISA claims would result in the inequitable treatment of plan participants and create undesirable tax consequences, the Public Justice P.C. group contends in an updated Jan. 26 amicus curiae brief filed in the Seventh Circuit U.S. Court of Appeals....