Put the Penn Down: 3rd Circuit Decision and its Effect on ERISA Class Action Claims

On May 2, a three-judge panel overturned a lower court’s decision in an Employee Retirement Income Security Act (ERISA) class action case in a 2-1 decision. The case, Sweda et al., v. University of Pennsylvania et al., centered on a group of University of Pennsylvania employees who felt that the school was not meeting its fiduciary burden when managing their retirement funds.

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