New York University defeated a class action accusing it of violating federal benefits law by allowing imprudent, high fee investments in its employees’ retirement plans.
NYU is the first college to fight these claims at trial and have a federal court rule in its favor.
The ruling, issued July 31 by a federal judge in New York, is a defeat for more than 20,000 current and former NYU employees who won class certification in a lawsuit challenging the investment funds and fees associated with the school’s retirement plans. The case went to trial in April for eight days.
The workers ...
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