Neuberger 401(k) Suit Fails Despite SCOTUS Boost, Court Told

Neuberger Berman Group’s 401(k) committee can still defeat a lawsuit challenging the plan’s affiliated investments despite a recent U.S. Supreme Court ruling favoring 401(k) investors, the committee told a Manhattan federal judge.

The committee on Friday continued its bid to have Arthur Bekker’s proposed class action dismissed as untimely after Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York ordered the committee to explain why it shouldn’t lose the case in light of a recent Supreme Court decision.

Bekker’s case—which claims Neuberger’s 401(k) committee filled the plan with expensive, actively-managed funds that earned ...