Vanderbilt University Retirement Plan Excessive Fee Suit Granted Class Certification
On Tuesday October 23, a Tennessee federal judge granted class certification in an ERISA suit brought by Schlichter Bogard & Denton on behalf of participants in a 403(b) plan sponsored by Vanderbilt University.
In granting class certification, U.S. District Judge Waverly D. Crenshaw Jr. found the named plaintiffs to be adequate class representatives and appointed Schlichter Bogard & Denton as class counsel of a class of roughly 40,000 participants in the Vanderbilt University 403(b) Retirement Plan.
When interviewed, founding and managing partner Jerome Schlichter said he was “pleased” with the Court’s ruling.
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