In a recent blockbuster ruling, the U.S. Supreme Court held in AT&T Mobility LLC v. Concepcion that the Federal Arbitration Act preempts state laws that prohibit the enforcement of arbitration agreements simply because they do not allow for the use of class procedures in arbitration. The decision is of tremendous importance for any business that enters into arbitration agreements or is considering doing so. In particular, Concepcion may have a significant impact on how financial services companies make use of arbitration agreements. Yet the reach of the Court’s holding has been the subject of substantial debate.
Please join Archis Parasharami and Kevin Ranlett, two of the Mayer Brown lawyers who represented AT&T Mobility before the Supreme Court in Concepcion and who have advised a number of businesses on how to draft arbitration provisions, as they discuss:
- What the Supreme Court’s decision in Concepcion means for businesses and their consumers and employees
- Key considerations in drafting arbitration agreements in light of Concepcion
- The next wave of arguments the plaintiffs’ bar may raise to challenge the use of agreements to resolve disputes on an individual (rather than class-wide) basis
- Proposed legislation and regulations to restrict the use of arbitration by the financial services industry
Of Related Interest
Global Financial Markets Initiative Teleconference: The Potential Impact of Dodd-Frank on Energy Derivatives
Teleconference recording: 5/26/2011
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.