Examples of Arbitration Claimants in a sentence
It initiated these arbitrations voluntarily, whether its consent was manifested in the terms of the original arbitration agreement found valid in DuCharme or by inviting the Arbitration Claimants to arbitrate and then participating fully in the arbitrations.
Also, on August 30, 2021, the Arbitration Claimants, including Plaintiff, filed a petition in the Second Circuit pursuant to Rule 23(f) seeking discretionary review of the class certification order.On August 31, 2021, the Ferguson court denied DST’s motion for a temporary restraining order, but it ordered the Arbitration Claimants to show cause as to why they should not be enjoined from prosecuting this or other actions relating to the class’s claims.
The Ferguson court stated, “[w]hile the Arbitration Claimants argue that they have a right to arbitrate, the Second Circuit as well as this Court has found that the claims at issue here are not covered by the arbitration agreement.” Id. at *7.
The Arbitration Claimants thereafter filed papers arguing against the proposed injunction, and DST filed papers in response.
Id. at 1048–50.Yet another problem with this objection is that, given their intent to opt out, the Arbitration Claimants lack standing to object to the substantive terms of the proposed settlement because, once they opt out, they will have “no stake” in the settlement itself.
If the Arbitration Respondents assert a counterclaim, (i) the Arbitration Respondents shall send it with the Arbitration Answer and such counterclaim must include a statement setting forth in reasonable detail the nature of the counterclaim, the amount involved, if any, and the remedy sought, and (ii) the Arbitration Claimants will file a reply statement (the “Arbitration Reply”) as soon as is reasonably practicable, but in no event later than thirty (30) days, after the counterclaim.
In fact, courts have frequently rejected the very sort of “attempts by lawyers to opt out class members en masse” that counsel for the Arbitration Claimants ask the Court to approve here.
In re Deepwater, 739 F.3d 790.Although the Arbitration Claimants cite a handful of cases from the Northern District of California that did not require individual signatures to opt out, the Court respectfully declines to follow them.
Instead of having to complete, sign, and mail in individual paper opt-out forms, the Arbitration Claimants insist that they should be able to opt out en masse by means of a single unsigned, electronic filing from their lawyers.Just as the requirements of notice and opportunity to opt out are designed to protect the due process rights of individual class members, courts have recognized that “opting out is an individual right” that “must be exercised individually.” In re Diet Drugs Prods.
Now that hundreds of Plan Participants have accepted DST’s offer to arbitrate, and secured awards after engaging in good faith, perhaps for years, in the arbitration process, it would be patently unfair to permit DST to revoke its consent to arbitration, vacate the arbitration awards, and require the Arbitration Claimants to start over.