Jerry Schlichter, the St. Louis attorney whose firm has won millions of dollars in settlements with companies over their 401(k) plans, lost a suit alleging New York University’s retirement plan overcharged employees.
Schlichter and his firm, Schlichter Bogard & Denson, represented NYU employees in a case alleging the loss of $358 million due to failure by the university to uphold its fiduciary duties.
A judge ruled there was insufficient proof that the school’s retirement plan committee acted imprudently.
Schlichter, who has filed more than a dozen suits against universities alleging breach of duties under the Employee Retirement Income Security Act, said he planned to file an appeal in the NYU case.
Read more: St. Louis Business Journal