October 1, 2019 / 9:16 PM / 14 days ago

Investment firm that advised NYU must face ERISA claims - 2nd Circuit

A U.S. appeals court on Tuesday said the dismissal of a lawsuit accusing New York University of mismanaging employee retirement plans did not bar the plaintiffs from pursuing similar claims against an investment firm that advised the school.

A unanimous three-judge panel of the 2nd U.S. Circuit Court of Appeals said that NYU and Cammack LaRhette Advisors LLC were not “in privity” with each other because their interests diverged, and potentially even conflicted, in the separate lawsuits brought by employees of the university.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2oeSJ5p

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