Submitting a dispute to a corporation's audit committee constitutes a waiver of arbitration rights under an employment contract, a U.S. Judge in Manhattan has ruled. The judge found that former Cendant Corporation CEO Walter A. Forbes is not entitled to arbitrate the audit committee's finding that he overbilled his expense account by more than $2 million in Cendant Corporation v. Forbes.
October 14, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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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