NYU Becomes Latest School To Beat ERISA Class Action

By Emily Brill (July 31, 2018, 1:55 PM EDT) -- New York University defeated an Employee Retirement Income Security Act class action on Tuesday when a federal judge rejected workers' claims that the school's two employee retirement plans were mismanaged to the tune of $358 million in losses.

A class of current and former New York University workers didn't prove the university's retirement committee acted imprudently when monitoring investments, a federal judge said Tuesday. (Getty)

U.S. District Judge Katherine B. Forrest's opinion and order tossed allegations that an NYU committee wasted workers' retirement savings by retaining two recordkeepers for the plans instead of one and keeping a pair of supposedly lagging...

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