Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Before DUBINA, Chief Judge, PRYOR and MARTIN, Circuit Judges.

This appeal from the denial of a motion to compel arbitration presents the question whether the Board of Trustees of the City of Delray Beach Police and Firefighters’ Retirement System agreed to arbitrate a dispute arising under its consulting contract with Citigroup Global Markets, which helped the Board evaluate the performance of several investment managers of pension funds the Board oversees. The Board complained that Citigroup abused its position as pension consultant when it provided erroneous reports about the performance of the investment managers of the fund, recommended investment managers who would agree to place trades through Citigroup, and engaged in self-dealing transactions with assets of the fund. Citigroup moved to compel arbitration on the ground that William Adams, the chairman of the Board, had bound the Board to arbitrate any dispute with Citigroup when he signed several account agreements through which one of the investment managers of the fund could buy and sell securities. Those account agreements required arbitration of disputes under those and “any other agreement between” Citigroup and the Board. The Board argued that Adams had no authority to bind the Board to arbitrate disputes under the consulting contract, and Citigroup responded that Adams had both implied actual authority and apparent authority to bind the Board. The district court agreed with the Board, held that Adams had no authority to bind the Board to arbitrate, and denied the motion to compel arbitration. Because we conclude that Adams had implied actual authority to bind the Board to arbitrate disputes arising under the consulting contract, we reverse and remand with instructions.

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now

Elite Trial Lawyers 2021

July 29, 2021

The National Law Journal Elite Trial Lawyers recognizes U.S.-based law firms performing exemplary work on behalf of plaintiffs.


BenefitsPRO Broker Expo 2021

May 18, 2021 - August 18, 2021
Virtual / San Diego, CA

The premier educational and networking event for employee benefits brokers and agents.


African Legal Awards 2021

September 03, 2021

The African Legal Awards are set out to recognise exceptional achievement from Africa s legal elite.


Patent Prosecution Associate Attorney

Waterbury, Connecticut, United States

Carmody Torrance Sandak & Hennessey is seeking an associate attorney with at least 2 years’ experience to undertake patent prosecu...

Apply Now ›

Employee Benefits Associate

Philadelphia, Pennsylvania, United States

Duane Morris seeks an associate with 3-4 years of experience to join its Employee Benefits and Executive Compensation Group. Candidate shoul...

Apply Now ›

Legal Assistant

Weston, Florida, United States

This position will report directly to the Vice President, Regional Counsel. This role will also support other attorneys in the regional grou...

Apply Now ›



HARWOOD LLOYD, LLC Welcomes Beth L. Barnhard, Esq. Beth has joined the firm as Counsel in the Wills, Trusts and Estates Department. She is Certified to be an Elder Law Attorney (CELA) by the ABAaccredited National Elder Law Foundation.

View Announcement ›



SNYDER SARNO D'ANIELLO MACERI & DACOSTA is Proud to Announce the opening of New Morristown Office!

View Announcement ›


DR Web

ATLANTA COMMUNITY FOOD BANK would to announce that Legal Food Frenzy teams and supporters raised $711,910 or enough food for 2,847,643 meals for food insecure families in the Atlanta Community Food Bank's 29 county service area.

View Announcement ›