Argent Trust Gets Isagenix Stock Plan Suit Sent to Arbitration

Argent Trust Co. can force a proposed class action over its handling of a $383 million employee stock ownership plan transaction into arbitration, according to a ruling from the US District Court for the District of Arizona.

Argent can rely on an arbitration provision in Isagenix Worldwide Inc.'s stock plan—including an amendment to the provision made one week after the lawsuit was filed—to force the dispute into individual arbitration, Judge Dominic W. Lanza of the US District Court for the District of Arizona ruled Wednesday. The amended provision doesn’t impermissibly interfere with plan participants’ statutory rights under the Employee Retirement ...