Lennar Corp. Gets Boost in 401(k) Dispute Arbitration Request

Homebuilder Lennar Corp. got one step closer to avoiding a lawsuit over its 401(k) plan, when a federal magistrate judge recommended that the dispute be sent to arbitration.

Lennar’s retirement plan document contains a valid and enforceable arbitration clause and class action waiver, Magistrate Judge Lisette M. Reid said in a nonbinding recommendation docketed Thursday in the US District Court for the Southern District of Florida. The Lennar plan’s class action waiver is “much narrower” than the one recently deemed unenforceable by the US Court of Appeals for the Tenth Circuit, because it allows an arbitrator to award plan-wide, non-monetary ...