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Labor Department Wants to Join ERISA Forced Arbitration Appeal

June 21, 2022, 2:12 PM

The Labor Department renewed its efforts to limit employers’ ability to use arbitration agreements to cut off ERISA class litigation, asking the Second Circuit for permission to join oral arguments in a case against Argent Trust Co.

The department wants to argue in support of employees covered by the Strategic Family Inc. employee stock ownership plan who sued Argent Trust over its handling of a $242 million stock plan transaction. The department’s June 17 motion comes one week after it filed a brief urging the US Court of Appeals for the Second Circuit to hold that arbitration agreements aren’t enforceable ...