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The American Arbitration Association (AAA), which controls approximately 94% of the consumer arbitration market, is facing a new antitrust class action lawsuit filed in U.S. federal court. The lawsuit alleges that AAA operates as an illegal monopoly by engaging in anticompetitive practices, including capping arbitrator fees at arbitrarily low levels, which purportedly disadvantages consumers and favors corporate defendants. This legal challenge follows recent updates to AAA's consumer arbitration rules, which businesses need to be aware of. Additionally, the Fourth Circuit Court has ruled that the Federal Arbitration Act takes precedence over the Servicemembers Civil Relief Act, further impacting arbitration proceedings.
The American Arbitration Association monopolizes the market for consumer arbitration and is "an unfair forum where consumers lose" to corporate defendants, according to a proposed consumer class action. https://t.co/TS0uYxeAo5
The influential American Arbitration Association has been sued in U.S. federal court for allegedly monopolizing the market for consumer arbitration and tilting the scales toward corporations in its proceedings. https://t.co/oInIF23JyW
Is the American Arbitration Association operating an illegal monopoly? That's the claim in a new antitrust class action filed today. Consumers say AAA protects its 94% market share through anticompetitive practices such as capping arbitrator fees at arbitrarily low rates. They https://t.co/aYv12Ma0H1
