Law Professors Urge 2nd Circuit To Reverse Imprudent Investment Ruling

Mealey's (December 4, 2019, 11:48 AM EST) -- NEW YORK — A group of law professors who write and teach about pension and employee benefits law filed an amicus curiae brief on Dec. 2 in the Second Circuit U.S. Court of Appeals, urging the appellate court to reverse a district court’s ruling in a suit filed by plaintiffs who claim that New York University (NYU) made imprudent investments in a 403(b) employee benefit plan in violation of the Employee Retirement Income Security Act because the plaintiffs plausibly stated a claim for breach of fiduciary duty (Dr. Alan Sacerdote, et al. v. New York University, No. 18-2707, 2nd Cir.)....

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