Before we know it, a new hockey season will be upon us. In that spirit, I report on a Federal Arbitration Act “preemption hat trick” that was completed August 12th by the Supreme Judicial Court of Massachusetts’ decision in McInnes v. LPL Financial, Inc., SJC-11356. For those not familiar with hockey, a “hat trick” occurs…
We have announced a new partnership with BoaterRated LLC this week, which brings valuable and convenient dispute resolution to the boating community. The service allows BoaterRated Partner Businesses™ to use ARS at reduced fees for all parties to a dispute. BoaterRated.com is the leading independent marine business review website, where boaters rate and review boating businesses. As…
Judge Joyner’s August 1st ruling in Goldman Sachs v. Athena Venture Partners, LLC, no. 13-MC-130 (E.D. Pa.), underscored some fairly basic arbitration law: the Federal Arbitration Act requires that arbitrators fully disclose to the parties anything that might cause a reasonable person to question the arbitrator’s impartiality. In Goldman an arbitrator – who was an…
Another generally anti-arbitration court — this one in Massachusetts — seems to have gotten the U.S. Supreme Court’s memo that the Federal Arbitration Act preempts state laws impinging on arbitration. See this excellent analysis of the latest reversal of Feeney v Dell by Deborah LaFetra in the PLF Liberty Blog.
Back in 1997, George Friedman, a member of the ARS Board of Directors, 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 2013 Securities Experts Roundtable in Boston.
The 2012 Jumpstart Our Business Startups Act (“JOBS Act”) is aimed at making it easier for small businesses to raise funds. The JOBS Act requires the SEC to perform studies and write rules to implement the law. Toward that end, the SEC solicited comments on Title III of the act, which concerns crowdfunding (a broad term used…
In April, George Friedman responded to a US News & World Report column by Dan Solin criticizing the FINRA arbitration forum. Solin, a long-time critic of FINRA, has just published a new article critical of FINRA executives’ compensation relative to investor performance. Friedman, one of our Board Directors, is uniquely qualified to respond to this…
In early May, bills were introduced in the House and Senate , attempting to breathe new life into the concept of a federal Arbitration Fairness Act (“AFA”). The bills would amend the Federal Arbitration Act (“FAA”) by adding a new chapter invalidating predispute arbitration agreements (“PDAAs”) for consumer, investor, employment, or civil rights claims. The proposed legislation is similar to prior failed efforts to similarly amend the FAA going back at least to 2005.
This article analyzes the AFA of 2013 and concludes that, while a well- intended effort to address a legitimate concern – PDAAs imposed via an adhesion contract by dominant parties on weaker parties like consumers and employees – it in fact is a potentially dangerous overreaction that could end up harming those it intends to protect. The article closes with the author’s recommendation for a better way to address these concerns.
In an interview with Lifestyle Media Group, VP Mark Norych shares why online arbitration is often a better alternative to traditional lawsuits. Read his advice here