"[T]he Fifth Circuit held that the arbitration clause in the company's defined contribution retirement plan violated the effective vindication doctrine because it prohibited participants from asserting claims in a representative capacity on behalf of the plan, which the Court explained 'is facially at odds with the statutory text' of ERISA Section 409 'and the remedy it provides.' The arbitration clause was also unenforceable because it only permitted participants to obtain individualized relief in arbitration rather than plan-wide relief.... [A table] lists the federal appellate courts that have applied the effective vindication doctrine in holding that an ERISA plan arbitration clause was unenforceable." [Parrott v. International Bancshares Corp., No. 25-50367 (5th Cir. Feb. 10, 2026)]  MORE >>