Panel: Statutory Right Issue Makes Class Action Waiver In ERISA Row Unenforceable

(July 3, 2023, 12:47 PM EDT) -- PHILADELPHIA — Affirming refusal to enforce an arbitration provision, a Third Circuit U.S. Court of Appeals panel said June 30 that a nonseverable class action waiver requiring employee stock ownership plan (ESOP) “participants to waive their statutory right to pursue statutorily authorized remedies” was “unenforceable even if it permits the Department of Labor to pursue those remedies on behalf of the ESOP’s participants.”...

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