Duke Employees Get Class Status in College Retirement Challenge

Duke University is the second prominent college to face a certified class action over how it runs its retirement plan.

A federal judge in North Carolina granted class status to about 40,000 current and former Duke employees who say the school’s retirement plan carried high fees and offered bad investment options. In February, employees at New York University received class status in their lawsuit raising similar claims.

Duke and NYU are among 17 prominent colleges to be sued in recent years over their retirement plans. These lawsuits are the first to be certified as class actions and may ultimately provide ...