A class-action lawsuit alleging securities fraud and breach of fiduciary duty against Ameriprise Financial Services Inc. is moving toward trial after a federal court shot down motions to compel arbitration.
A judge in the Western District of Missouri determined that because the Minneapolis-based financial services company could change the arbitration agreement unilaterally at any time, it lacked consideration and was unenforceable. The court ordered the parties in the case to prepare for trial.
The…
A class-action lawsuit alleging securities fraud and breach of fiduciary duty against Ameriprise Financial Services Inc. is moving toward trial after a federal court shot down motions to compel arbitration.
A judge in the Western District of Missouri determined that because the Minneapolis-based financial services company could change the arbitration agreement unilaterally at any time, it lacked consideration and was unenforceable. The court ordered the parties in the case to prepare for trial.
The…