Cedars-Sinai Retirement Plan Fee Lawsuit Denied Class Status

A lawsuit accusing Cedars-Sinai Medical Center Inc. of mismanaging its workers’ $2.15 billion retirement plan won’t move forward as a class action after a federal judge deemed the case’s proposed class representatives inadequate.

The would-be representatives don’t have claims that are typical of the class because they invested only in the plan’s stable value fund and can’t adequately mount a challenge to the other investments at issue in the lawsuit, Judge Josephine L. Staton said in an order issued Wednesday in the US District Court for the Central District of California. They also paid annual recordkeeping fees they admit are ...