Second Circuit Denies Arbitration Clause in ESOP Case

In Cedeno v. Argent Tr. Co., No. 20-CV-9987 (JGK) (2nd Cir. May 1, 2024), the Second Circuit upheld a lower court ruling that an arbitration agreement precluded participants “from seeking relief for the plan as a whole, a form of relief that is otherwise provided for by ERISA” and that such action is “contrary to the language and intent of the law.”