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Universal Health’s Loss Hints at Reach of SCOTUS Pension Case

Nov. 2, 2020, 3:50 PM

Universal Health Services Inc.‘s bid to end a proposed class action challenging its 401(k) fees fell flat when a federal judge in Philadelphia declined to extend a recent U.S. Supreme Court ruling on pension standing to the 401(k) context.

Universal, which operates 400 medical facilities across the country, argued the plaintiffs lacked constitutional standing to challenge 401(k) investments they didn’t personally hold in their accounts.

Judge Mark A. Kearney of the U.S. District Court for the Eastern District of Pennsylvania disagreed, saying the allegations largely center on plan-wide conduct that qualifies as an injury establishing standing.

Kearney’s Oct. 30 ...