ISCO Stock Plan Battle Won’t Be Arbitrated as Judge Reconsiders

ISCO Industries Inc. workers challenging a forced stock buyback in their employee stock ownership plan convinced a Kentucky federal judge to rethink her decision ordering much of the dispute into arbitration

The judge on Monday vacated her 2022 decision forcing claims against ISCO and former executives into arbitration, saying the case is governed by the US Court of Appeals for the Sixth Circuit’s intervening decision in Parker v. Tenneco Inc. In Parker, the Sixth Circuit declined to enforce a benefit plan’s arbitration clause because it limited the rights guaranteed to plan participants under the Employee Retirement Income Security Act, ...