ERISA Class Action Brought Against Columbia University to Proceed in Federal Court
A New York federal judge ruled that an ERISA class action lawsuit brought by Schlichter Bogard & Denton on behalf of over 30,000 Columbia University retirement plan participants will proceed to trial. Denying the University’s Motion for Summary Judgment, the court adopted a magistrate judge’s October 2019 Report and Recommendation, finding that genuine issues of material fact as to whether Columbia failed to keep record-keeping fees low and remove underperforming investment funds precludes summary judgment.
Schlichter Bogard & Denton Senior Partner Jerry Schlichter told Law360, “We’re pleased that the district court upheld the very detailed findings of the magistrate judge, and now we look forward to taking the case to trial on behalf of the Columbia employees and retirees.”
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