Cammack LaRhette Is Denied Redo in NYU Retirement Plan Challenge

Investment adviser Cammack LaRhette Advisors LLC failed to undo a ruling requiring it to defend claims related to the cross-selling of investment products to participants in New York University’s retirement plan, a federal court said Tuesday.

Cammack had asked Judge Analisa Torres to reconsider the portion of her 2024 decision declining to dismiss claims involving the NYU plan recordkeeper’s alleged use of participant data to sell unrelated products and services. The university employees sought to hold Cammack liable on this claim as a co-fiduciary of their retirement plan, but they have no viable fiduciary breach claim against the relevant NYU ...