Appeal from a judgment entered by the United States District Court for the Southern District of New York (Deborah A. Batts, Judge) in favor of the defendant–appellee Ameriprise Financial Services, Inc. In an arbitration before the Financial Industry Regulatory Authority, the appellants -- a married couple -- brought claims against the defendant–appellee for, inter alia, breach of fiduciary duty, breach of contract, fraud, and negligent misrepresentation related to the decline in value of various personal financial assets managed by the defendant–appellee. The defendant–appellee then moved before the district court, which had retained exclusive jurisdiction over a 2007 class-action settlement, to enforce that settlement agreement against the couple and order them to withdraw their pending arbitration claims. The court, granting the defendant–appellee's motion, determined that the appellants, who had been class members in the prior class action, had expressly released all of their arbitration claims by virtue of their failure to timely opt out of the class-action settlement. But the appellants' arbitration claims include "suitability" claims that are preserved by a carve-out clause in the settlement agreement, in addition to other claims falling outside the bounds of the class settlement and release; therefore, the district court erred in directing the appellants to withdraw their entire arbitration complaint.

Accordingly, we AFFIRM in part and VACATE in part the judgment of the district court, and we REMAND in part to the district court for resolution consistent with this opinion.