USC Retirement Plan Row Now Class Suit Covering at Least 30,000

The University of Southern California is facing a certified class of at least 30,000 people in a lawsuit challenging the fees and investment options in its retirement plan, according to a ruling by the Central District of California.

The “essential question” of the case is whether the USC defendants breached their fiduciary duties and caused losses to the retirement plans, Chief Judge Virginia A. Phillips said. Because the focus is on the plans and not the individual plan participants, USC can’t defeat class status by arguing that some class members benefited from the conduct challenged by the lawsuit, Phillips said ...