Case Brought by Schlichter Bogard & Denton on Behalf of NYU Retirement Plan Participants Will Proceed to Trial
On Thursday February 22, United States District Court Judge, Katherine B. Forrest denied New York University’s motion for summary judgment in an ERISA suit brought by Schlichter Bogard & Denton on behalf of participants in two retirement plans sponsored by New York University.
When interviewed, Schlichter Bogard & Denton’s founding partner and lead trial attorney for the NYU participants, Jerome Schlichter, said that “[w]e’re pleased that this case on behalf of NYU employees and retirees will now go to trial. We look forward to presenting the facts regarding how the plan was handled and the impact it had on participants.”
Judge Forrest’s ruling, which comes shortly after she ruled to certify the case as a class action and appointed Schlichter Bogard & Denton as class counsel, will make this case the first excessive fee case brought on behalf of 403(b) plan participants that will proceed to trial.