Federal judge refuses to dismiss lawsuit regarding University’s retirement plan Federal judge rejects the University’s motion to dismiss a lawsuit regarding its retirement plan. A federal judge issued a mixed ruling on the University’s request to dismiss a lawsuit that accuses its retirement plan of excessive fees and poor investments. The judge, Catherine C. Eagles of the U.S. District Court …
The University of Pennsylvania is one of several universities being sued by employees amid allegations that the schools’ retirement plans come with excessive fees. In addition to the University of Pennsylvania, complaints were filed on behalf of employees of Duke University, Johns Hopkins University and Vanderbilt University. Before the latest round of complaints, lawsuits were …
This month Penn joined a familiar list of peer universities — including Duke, Harvard and Yale — in a lawsuit over employee retirement plans. The class action lawsuit claims that University retirement plans have been charging fees that are too high for school employees. All of the schools involved are being accused on the grounds that they all use several providers, as opposed to one, to manage …
With some of the universities named in the lawsuits holding more than 400 fund options managed by five or more record keepers, universities will have a difficult time wading through details of each fund to determine if and how they could have noticed trends of investment underperformance. But with higher education at large struggling to maintain endowment gains, and …
The class plaintiffs, the government and VW filed a proposed settlement agreement in court yesterday. I wanted to provide you with a copy of the proposed settlement agreement which is linked below. What follows is a quick overview of the settlement.
A federal judge may have dealt a serious blow to people suing over the Flint water crisis. U.S. District judge John Corbett O’Meara dismissed the class-action suit after finding the claims made by Flint residents couldn’t be resolved in federal court. At issue are claims made by the plaintiffs in the case that their constitutional rights and state law were…