Transportation stocks sink after Supreme Court backs trucker who resisted being forced into arbitration after suing over wages

Dec 2014
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The Milky Way
#1
Typical Wall Street overreaction.



  • The U.S. Supreme Court on Tuesday sides with a long-haul truck driver who sued his employer for failing to pay him a minimum wage. It marks a rare win for workers at the high court.
  • The upshot of the holding is that, under the nearly 100-year-old Federal Arbitration Act, which is generally presumed to favor employers, truck drivers employed as independent contractors cannot be forced into private arbitration.
  • Following the release of the decision, shares of companies in the transportation sector lag the broader market.
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Transportation stocks sink after Supreme Court backs trucker in arbitration battle with employer