January 19, 2018 / 10:57 PM / a year ago

Judge rejects Schwab's bid to arbitrate ERISA lawsuit

A federal judge in Oakland, California has denied a bid by Charles Schwab Corp to force arbitration of a proposed class action accusing it of loading its employees’ retirement plan with its own high-cost funds to profit from fees.

U.S. District Judge Claudia Wilken on Thursday rejected Schwab’s argument that named plaintiff Michael Dorman had signed several documents agreeing to arbitrate disputes out of court, saying those agreements did not apply to his claims in this case.

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