Questions Linger After High Court Revives Northwestern Suit

By Kellie Mejdrich (January 25, 2022, 7:21 PM EST) -- Plaintiff-side ERISA attorneys notched a win Monday with the U.S. Supreme Court's decision to revive a proposed class action challenging Northwestern University's handling of its retirement plan, but the unanimous ruling leaves open questions that have attorneys on both sides of the bar wanting more.  

By vacating the Seventh Circuit's May 2020 decision, the high court removed a major hurdle to pursuing Employee Retirement Income Security Act cases alleging that employers' mismanagement of retirement plans breached their fiduciary duty. The justices' opinion made clear that the existence of better investment options in a plan doesn't preclude lawsuits over bad ones. 

But there's still no clear road...

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