Judge Awards Class Counsel A 3rd Of Columbia’s $13M ERISA Funds, Fees Settlement

Mealey's (October 21, 2021, 1:35 PM EDT) -- NEW YORK — A New York federal judge on Oct. 13 granted final approval to a $13 million class action settlement between Columbia University trustees and participants in two 403(b) plans over allegations that the trustees breached the fiduciary duty of prudence by incurring excessive administrative fees and by selecting and retaining underperforming investment options; on Oct. 18, the judge granted an award of $4,333,333.33 for attorney fees from the settlement fund....