DST 401(k) Investors Get Nod for $12 Million Arbitration Awards

DST Systems Inc. must pay about $12 million in individual arbitration awards to 55 participants in its retirement plan, but similar awards covering 122 more participants won't be confirmed or transferred to Manhattan, a Missouri federal judge ruled.

Judge Nanette K. Laughrey of the US District Court for the Western District of Missouri confirmed the arbitration awards of 55 individual DST plan participants after concluding that she had jurisdiction over these disputes based on the parties’ citizenship in different states. But she declined to confirm the remaining awards at issue, saying she lacked jurisdiction under either federal law or based ...

AI-powered legal analytics, workflow tools and premium legal & business news.

Log in to keep reading or access research tools.