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Supremes to Decide If Arbitration Agreement Includes Class Actions

By Mark H. Astarita, Esq.

I shudder at the thought of a class action in arbitration, and really cannot imagine who would push for such an outcome, but at least one party to an arbitration is doing so.In Stolt-Nielsen S.A., et al. v. AnimalFeeds International Corp. the US Supreme Court is going to rule on the plaintiff's request that a class action go to arbitration. The question presented in the case is "[w]hether imposing class arbitration on parties whose arbitration clauses are silent on that issue is consistent with the Federal Arbitration Act, 9 U.S.C. §§ 1 et seq."Can you imagine FINRA trying to administer a class action arbitration? It would be a nightmare. Fortunately, we don't have to worry about that, since FINRA's rules, which are part of the agreement to arbitrate, prohibit class actions...continue to full post

Full post as published by SECLaw.com on June 16, 2009 (boomark / email).