NYU Worker Claims Are Narrowed in Retirement Plan Lawsuit

New York University workers suing over alleged retirement fund breaches had their claims tapered after a federal judge ruled some of their allegations had already been settled in court.

Cammack LaRhette Advisors LLC was partially denied judgment on the pleadings of the workers’ claims alleging a breach of both fiduciary and co-fiduciary duties, Judge Analisa Torres wrote in her Nov. 22 order. The pension consultant will still have to face allegations about the use of inappropriate assessment of investment performance, retaining class shares with excessive fees, and allowing one of its recordkeepers to cross-sell its own products to retirement plan ...