Benefits & Executive Compensation News

Duke Latest School Snared by Coordinated ERISA Lawsuits

Aug. 10, 2016, 4:33 PM

Schlichter Bogard & Denton’s coordinated attack on the retirement plans of prominent universities hit another school when the firm filed an ERISA class action against Duke University (Clark v. Duke Univ., M.D.N.C., No. 1:16-cv-01044, complaint filed 8/10/16).

The law firm, which has led the decade-long litigation effort against 401(k) plan fees, filed lawsuits on Aug. 9 against Yale University, New York University and Massachusetts Institute of Technology. On Aug. 10, the firm targeted Duke’s $4.7 billion retirement plan, which the firm says charged excessive fees and included too many investment options—allegedly more than 400—which drove up...

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