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Columbia Retirement Plan Battle Loses Class Status, For Now

Nov. 14, 2018, 4:46 PM

A lawsuit challenging the fees and funds in Columbia University’s $6 billion retirement plans is no longer a certified class action.

A federal magistrate judge Nov. 13 vacated his order certifying the lawsuit as a class action involving as many as 28,000 people with money invested in Columbia’s retirement plans.

The lawsuit still is likely to be certified as a class action, as Columbia said in previous court filings that it doesn’t oppose class certification. The magistrate’s order—which didn’t include a written explanation—comes four days after the parties jointly requested that the order be vacated on the grounds that ...