Columbia Can’t Appeal Class Status in Retirement Plan Battle

Columbia University can’t immediately appeal a decision granting class status to about 28,000 investors challenging the fees and investment options in the school’s retirement plans.

The school objects to a 2018 decision granting class status to all remaining claims in the lawsuit targeting its retirement plans. Columbia consented to class status for portions of the lawsuit but argued—unsuccessfully—that class status wasn’t appropriate for certain claims where class representatives didn’t invest in the challenged retirement funds.

The U.S. Court of Appeals for the Second Circuit rejected the school’s appeal in a one-page order issued March 13. The court said an immediate ...