Class Certified In Breach Of Duty Of Prudence Suit Against Columbia University

Mealey's (November 12, 2018, 9:12 AM EST) -- NEW YORK — A New York federal magistrate judge on Nov. 8 certified a class of plaintiffs in a suit alleging that Columbia University breached its duty of prudence to its retirement plan participants and beneficiaries by causing the university’s retirement plans to incur excessive administrative fees and by failing to monitor the plans’ investment options (Chandra Cates, et al v. The Trustees of Columbia University in the City of New York, et al., No. 16-6524, S.D. N.Y.)....