Charles Schwab Loses Second Try to Send Fee Case to Arbitration

Charles Schwab Corp. couldn’t convince a federal judge in California to reconsider her decision to deny the arbitration of a lawsuit over the alleged mismanagement of the financial company’s 401(k) plan.

Charles Schwab failed to show why—in January when the court refused to send the case to arbitration—it was unable to submit the arbitration clause version it now claims applies to the worker who filed the lawsuit, Judge Claudia Wilken of the U.S. District Court for the Northern District of California held July 9.

Wilken in January held that Charles Schwab couldn’t use an arbitration agreement in employment ...