Class of over 35,000 current and former 401(k) participants represented by Schlichter Bogard certified in lawsuit against USC
In 2016, Schlichter Bogard & Denton filed an ERISA fiduciary breach suit against The University of Southern California (“USC”) in the U.S. District Court for the Central District of California on behalf of current and former USC retirement plan participants, alleging excessive fees and imprudent investments.
USC previously attempted to force arbitration, but the District Court denied its motion. The Ninth Circuit upheld this decision, and the U.S. Supreme Court denied USC’s Petition for a Writ of Certiorari.
On December 23, the District Court granted our Motion for Class Certification, which means that the case will move forward as a class action involving more than 35,000 USC employees and retirees who’ve invested in the USC plans at issue. Schlichter Bogard & Denton represents all plan participants.
2020 will mark the firm’s 14th year of safeguarding Americans’ retirement assets. Read about other high-impact cases handled by Schlichter Bogard & Denton. For additional information about Schlichter Bogard & Denton’s Retirement practice, please contact us at 800-873-5297 or sbd@uselaws.com.
