DST Ex-Worker Must Arbitrate 401(k) Suit Against Ruane Cunniff

Aug. 16, 2017, 8:52 PM

Ruane Cunniff & Goldfarb can compel arbitration of class claims by a DST Systems Inc. 401(k) participant who challenged the firm’s investment strategy that allegedly caused more than $100 million in plan losses (Cooper v. Ruane Cunniff & Goldfarb Inc., S.D.N.Y., 1:16-cv-01900, 8/15/17).

Given the substantial overlap between the participant’s claims against DST—which is no longer a party in the case—and Ruane, the participant may not evade his obligation to arbitrate by naming Ruane as the sole defendant, Judge William H. Pauley III of the U.S. District Court for the Southern District of New York ruled Aug. 15. ...

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