Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Columbia Accuses Workers of Sandbagging in Retirement Plan Row

March 4, 2019, 5:28 PM

Columbia University is fighting what it calls an “eleventh-hour effort” to expand a class action targeting the fees and investment funds in the school’s retirement plan.

Columbia accused the workers who filed suit of waiting two years into litigation to raise challenges to 20 specific funds offered by the retirement plan. This “sandbagging” leaves Columbia “at an unfair strategic disadvantage” that undermines its due process right to defend itself, the school said in a March 1 motion.

The lawsuit, which covers about 28,000 individuals with money invested in Columbia’s $6 billion retirement plans, challenged two plan investment options as ...