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Cornell Settles Retirement Plan Suit, Canceling Rare Jury Trial

Sept. 2, 2020, 2:21 PM

Cornell University settled a class action targeting the fees and investment options in its retirement plan four weeks before the case was set for a rare jury trial in the U.S. District Court for the Southern District of New York.

Cornell and the 28,000-person class of plan participants announced they’d settled the case’s sole remaining claim in a Tuesday hearing before Judge P. Kevin Castel. They plan to submit settlement paperwork by Sept. 21—one week before the case was scheduled to go to trial.

The settlement comes two years after Castel partially granted the Cornell plan participants’ request to try...

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