The denial leaves in place an appellate court’s decision that claims in a lawsuit against the University of Southern California fell outside the scope of arbitration agreements signed by plaintiffs in the case, so the lawsuit over two of the university’s retirement plans may proceed.
Tag: arbitration agreements
The 9th U.S. Circuit Court of Appeals previously concluded that the challenge to the management of the University of Southern California’s retirement plans fell outside the scope of the arbitration agreements because the claims were brought on behalf of the plans, not the individuals.
For its part, Schwab says the appellate court’s decision, which effectively invalidates agreements to arbitrate ERISA Section 502(a)(2) claims, conflicts with U.S. Supreme Court and Circuit precedent interpreting the Federal Arbitration Act (FAA) and ERISA.