Preliminary Approval Of $1.85M Class Settlement Sought In ERISA Excessive Fee Suit

Mealey's (November 30, 2021, 12:32 PM EST) -- MIAMI — Defined contribution plan participants on Nov. 23 moved for preliminary approval of a class action settlement to resolve their putative class fiduciary duty lawsuit in exchange for a $1.85 million cash payment and other relief from the University of Miami; in a contemporaneous first amended complaint, the participants expanded the number of retirement plans at issue to five....