US. Lawsuit against Brown University retirement plan proceeds
Three former and current University employees can move forward with some of the claims in a class action lawsuit alleging that the University mishandled their retirement funds, according to Chief Judge William Smith in a July order from the U.S. District Court for the District of Rhode Island.
“Our clients (stepped) forward to file suit because they thought it would advance the interests of their fellow employees who participate in the retirement plan,” said Todd Collins, one of the lawyers from Berger & Montague P.C. representing the plaintiffs. “It is with that goal in mind that on their behalf we are proceeding with the litigation,” Collins added.
“At Brown, we are deeply committed to the well-being of our employees and approach our fiduciary responsibilities in sponsoring retirement plans with the utmost attentiveness,” wrote Brian Clark, director of news and editorial development, in an email to The Herald. “We have a strong case to make and will continue to respond as appropriate through the legal process.”
The judge’s order stated that the case is “one of many look-alike lawsuits filed nationwide.” Yale, Northwestern University, Columbia and Duke University have gone through similar legal conflicts, The Herald previously reported.
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