Duke University is in the hotseat, after a federal judge refused to dismiss a lawsuit targeting its retirement plan.
The Duke Chronicle reports that Judge Catherine C. Eagles of the U.S. District Court for the Middle District of North Carolina has issued a mixed ruling on the university's request to dismiss a lawsuit accusing its retirement plan of excessive fees and poor investments.
While plaintiff David Clark's allegations that Duke's retirement plan involved high investment fees and favored certain investments with many options over lower-cost alternatives were not dismissed—thus keeping alive a class-action suit that could affect the more than 37,000 employees and retirees in the University's Faculty and Staff Retirement Plan, she did dismiss other allegations that she characterized as filed too late or not supported by enough facts to make them plausible.
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