The U.S. Supreme Court Unanimously Rules in Favor of Cornell University Retirement Plan Participants Represented by Schlichter Bogard
As reported by Law360 and numerous other media outlets, the U.S. Supreme Court, in a unanimous decision on Thursday, revived Cunningham v. Cornell – an ERISA suit brought by Schlichter Bogard on behalf of more than 30,000 participants enrolled in Cornell University’s retirement plan.
In deciding in favor of the plaintiffs represented by Schlichter Bogard, and reversing the decision of the appellate court below, the Supreme Court ruled that the appellate court should not have dismissed the plaintiffs’ claim that Cornell’s arrangements with high-cost recordkeepers caused its retirement plan to violate federal law.
This is the third case brought by Schlichter Bogard under the Employee Retirement Income Security Act of 1974 (“ERISA”) heard by the U.S. Supreme Court within approximately the past decade. In the first two cases, Tibble v. Edison and Hughes v. Northwestern University, the Supreme Court also ruled unanimously for retirement plan participants represented by Schlichter Bogard.
For more information about Schlichter Bogard’s retirement practice, please contact us at 800-USE-LAWS (873-5297) or via email at contact@uselaws.com.
