Plan Participants Seek Class Certification In Suit Against Columbia University

Mealey's (September 12, 2018, 12:16 PM EDT) -- NEW YORK — Plaintiffs alleging that Columbia University breached its duty of prudence by causing the university’s retirement plans to incur excessive administrative fees and by failing to monitor the plans’ investment options filed a motion on Sept. 7 in New York federal court seeking to certify a class of individuals who were and are participants of Columbia University’s retirement plans and who allegedly sustained losses as a result of the university’s breach of the duty of prudence (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.)....