The Supreme Court granted cert. on November 9, sub nom American Express Co. v. Italian Colors Restaurant (Case No. 12-133). The issue presented is as follows:
Whether the Federal Arbitration Act permits courts, invoking the “federal substantive law of arbitrability,” to invalidate arbitration agreements on the ground that they do not permit class arbitration of a federal-law claim.
The Court's docket is here. The Second Circuit opinion is here, and SCOTUSblog has a web page for the case here. I have added the case to our Watch List and we will do a webinar on it when the Court issues its decision next year.