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Tenth Circuit: Arbitration Provision in ESOP Was Unenforceable
Thomson Reuters Practical Law Feb. 14, 2023 "In litigation arising from an [ESOP's] purchase of employer shares from the employer's board members, the Court of Appeals for the Tenth Circuit held that the ESOP's arbitration provision requiring individual arbitration prevented a plan participant from effectively vindicating plan-wide remedies available under [ERISA], and therefore was unenforceable." [Harrison v. Envision Mgmt. Holding, Inc. Bd. of Directors, No. 22-1098 (10th Cir. Feb. 9, 2023)] |
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