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Tenth Circuit Allows ERISA Arbitration, So Long As There are No Limitations in Remedies

On February 9, 2023, the U.S. Court of Appeals for the Tenth Circuit refused to enforce an arbitration clause contained in an employee stock ownership plan (“ESOP”) document. In a 41-page opinion, the Court held that the ESOP Plan improperly limited the ESOP beneficiaries’ rights and remedies granted under the Employee Retirement Income Securities Act […]

| 4 min read

Second Time Around: Seventh Circuit Given First Opportunity to Analyze the Duty of Prudence Post Hughes

On August 29, 2022, the U.S. Court of Appeals for the Seventh Circuit affirmed the dismissal of a 401(k) plan participant’s claims that plan fiduciaries mismanaged the $1.1 billion 401(k) plan and charged participants excessive fees.  This was the first time the Seventh Circuit interpreted the Supreme Court’s recent opinion in Hughes v. Northwestern University, […]

| 3 min read