More than 20,000 current and former New York University employees got class action status in their lawsuit challenging the fees and funds in the school’s retirement plans.
Federal Judge Katherine B. Forrest officially certified the case as a class action on Feb. 13, a week after she warned the parties she planned to do so soon. In her latest order, Forrest said the case presented “core questions” common to all class members—namely, whether the NYU defendants breached their fiduciary duties by allowing the plans to charge allegedly high fees and offering certain investment options that workers say were imprudent.
Forrest’s ...
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