Former Employees Must Arbitrate ERISA Claim, 5th Circuit Rules

Former Employees Must Arbitrate ERISA Claim, 5th Circuit Rules

NEW ORLEANS - Former UBS Financial Services Inc. financial advisers and branch managers must arbitrate their claims that the company violated the Employee Retirement Income Security Act by deeming certain funds in their benefits plan forfeited upon their separation from the company, the Fifth Circuit U.S. Court of Appeals ruled Nov. 11 in an unpublished opinion (Bill Hendricks, et al. v. UBS Financial Services, Incorporated, Nos. 13-40692, 13-40693, 5th Cir.; 2013 U.S. App. LEXIS 22779).

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