The U.S. Supreme Court revived a lawsuit against Northwestern University Monday in a decision that may breathe new life into dozens of lawsuits across the country that take aim at retirement plans with poorly performing investments and excessive recordkeeping fees.
In a unanimous ruling, the Supreme Court vacated an appellate court’s decision to toss out a lawsuit university employees brought challenging the school’s retirement plan fees and investment lineup. The ruling is a boost for employees who argue that an array of investment options isn’t enough, and that retirement plans have a duty to pick the most prudent fund options ...