Submitting a dispute to acorporation’s audit committee constitutes a waiver of arbitration rightsunder an employment contract, a Southern District Judge has ruled.
Judge Jed S. Rakoff foundthat former Cendant Corporation CEO Walter A. Forbes is not entitled toarbitrate the audit committee’s finding that he overbilled his expenseaccount by more than $2 million in Cendant Corporation v. Forbes, 99Civ. 4869.
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