Second Circuit Holds That Employers Can Use Arbitration Agreements To Avoid Pattern Or Practice Class Actions On March 21, 2013, the Second Circuit issued its long-awaited decision in Parisi v. Goldman, Sachs & Co., No. 11-5229 (2d Cir. Mar. 21, 2013). In a significant ruling for employers, the Second Circuit held that a plaintiff has no substantive right to pursue a pattern or practice claim via a class action and, therefore, must arbitrate her discrimination claims on a bilateral basis in accord with her arbitration agreement.  View Full Post
On March 21, 2013, the Second Circuit issued its opinion in Parisi v. Goldman Sachs & Co., Case No. 11-5229, reversing a decision from the Southern District of New York, and holding that arbitration agreements which preclude Title VII class actions are enforceable. View Full Post
In a major victory for employers, a New York federal circuit court ruled yesterday that an employer with a mandatory arbitration agreement with Goldman Sachs can require an employee to go to arbitration on a Title VII class action because Title VII contains no substantive right to pursue a pattern-or-practice sex-bias claim. View Full Post
Rajat Gupta Ordered to Repay Goldman Sachs $6.2 Million for Attorney's Fees By the time you read this blog post, you undoubtedly will have seen one of the stories in the mainstream media reporting on the February 25, 2013 decision of Southern District Court Jed Rakoff ordering former Goldman Sachs director Rajat Gupta to repay most of the legal fees the company incurred in connection with the government’s investigation and prosecution of Gupta. View Full Post
In an October 18, 2012, decision by Justice Kornreich, the court granted in part and denied in part defendant’s motions to compel arbitration and to dismiss the complaint.  Plaintiff-mutual fund sued defendant-investment bank in connection with the purchase of a certain mortgage-backed securities.  View Full Post
Goldman Sachs, Fabulous Fab, and Morrison v. National Australia Bank's Second Prong In its June 2010 decision in the Morrison v. National Australia Bank, the U.S. Supreme Court enunciated a “transactions” test to determine the applicability of the U.S. securities laws. The Court said that the U.S. securities laws apply only to “transactions in securities listed on domestic exchanges and domestic transactions in other securities.” View Full Post