Columbia U. Should Face ERISA Class Action, Judge Says

Law360 (October 25, 2019, 12:50 PM EDT) -- An ERISA class action accusing Columbia University of mismanaging two retirement plans should proceed to trial, a New York federal magistrate judge recommended Friday, saying there are too many factual disputes between the school and the workers behind the suit to justify handing Columbia an early win.

U.S. Magistrate Judge Stewart D. Aaron's report and recommendation urged the district court to deny the university's motion for summary judgment in the case, which accuses Columbia of failing to keep its retirement plans' fees low and investments prudent as required by the Employee Retirement Income Security Act.

"Due to the presence of myriad...

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