Tuesday, November 3, 2015
STEPHEN BARR VS. BISHOP ROSEN & CO., INC. A-2502-14T2
STEPHEN BARR VS. BISHOP ROSEN & CO., INC.
Plaintiff was employed for seventeen years with defendant, a securities broker-dealer. In defining their relationship by written agreements in 1997 and 2009, plaintiff consented to arbitrate any dispute, but he did not expressly waive his right to sue in a judicial forum. In 2000, defendant advised plaintiff by memorandum of a federal regulation that required broker-dealers to advise employees that, when agreeing to arbitrate, the employee surrenders the right to sue. The court held, in affirming the trial judge's denial of a motion to compel arbitration of plaintiff's complaint regarding compensation, that the 2000 memorandum could not inform or pour content into the arbitration agreements executed in 1997 and 2009, because the disclosure was not simultaneously made.