The A-Rod Saga: Batting 1.000 So Far (See For Yourself) My previous blog post here on the A-Rod saga (A-Rod’s Chances on Appeal: Rock, Meet Hill) contained some predictions. Several have already have come to pass; so far I am batting 1.000. A-Rod would Bring Legal Action to Vacate Award First, I predicted…
In short there are three takeaways here: 1) labor arbitration is a different animal, but the scope of court review of arbitration awards is very limited, just as in business or consumer arbitrations; 2) A-Rod is pushing the proverbial rock up a hill with his announced intention to appeal Arbitrator Horowitz’s decision that he be suspended for 162 games (an entire season); and 3) there is a small window of opportunity that might allow him to play this year.
The story becomes more complicated when Citigroup and the individual broker sought to challenge the award in state court on the grounds of manifest disregard of law, and bias because two of the arbitrators failed to make required disclosures. It turns out the parties appeared to have settled their dispute before the arbitration was commenced. This the court seizes on without addressing the arbitrator disclosure issue.
By Mark Norych, Executive Vice-President/General Counsel, Board Director For the vast majority of the people in the United States, disagreements or disputes wind up in lawsuits and Courts which everyone realizes takes a lot of time and money. Although arbitration as a way to settle disputes has existed for centuries, it is now finally coming…
written by George Friedman, Board Director Here’s my read on American Express Co. v. Italian Colors. In another in a series of very pro-arbitration rulings, the U.S. Supreme Court enforced a predispute arbitration agreement even though proving the claim in an individual arbitration might be very costly compared to a class action. In American Express Co….
Back in 1997 George Friedman, a member of the Board of Directors of ARS, predicted and planned for the economic collapse of 2008, alternative energy needs, hybrid and electric cars, and now the future of arbitration. Check out his predictions that were applauded at the ADR ExecuSummit 2013.
Author Dan Solin, a long-time critic of FINRA, published a column in U.S. News & World Report claiming that the FINRA arbitration forum is “biased, unfair to investors and shrouded in secrecy.” George Friedman, our Board Director who recently retired as FINRA’s Director of Arbitration, submitted a rebuttal letter to the U.S. News & World…