Leading Attorney Marcia Wagner’s Testimony Cited by Court as Crucial in Dismissal of ERISA Case Against New York University
BOSTON, Aug. 01, 2018 (GLOBE NEWSWIRE) -- On July 31, 2018, the U.S. District Court for the Southern District of New York dismissed the class-action case against New York University (Sacerdote, et. al. v. New York University) for breach of its fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) in administering its retirement plan on behalf of its employees. Nationally-recognized ERISA attorney, Marcia S. Wagner, principal of The Wagner Law Group, served as an expert witness for the defense in this seminal case. In its decision, the Court cited Ms. Wagner’s expert testimony as particularlarly swaying:
“Defendant retained [Marcia] Wagner to provide expert testimony regarding NYU’s processes relating to recordkeeping fees[…] The Court found her experience with 403(b) plans impressive and her testimony consistent, reasonable, logical and ultimately, highly credible.”
Ms. Wagner is widely sought after as an expert witness and has successfully provided expert testimony and reports in a wide range of ERISA-related litigation. Specifically, she has testified concerning matters including (but not limited to): the standards of conduct imposed on custodians under ERISA and how those standards relate to custodians holding IRA assets; the level of monitoring expected from providers of custodial services, particularly in the context of fraudulent activity by third parties rendering investment advice to IRA owners and providing plan investments to IRAs; the investment allocation practices by Taft-Hartley plans seeking recovery of funds lost as a result of investment in fraudulent feeder funds, and the adherence to investment policy guidelines with respect to alternative investments; the allocation of plan expenses between formerly affiliated plan sponsors under an administrative cost-sharing agreement; a third-party administrator’s putative authority to exercise signature authority on behalf of a plan sponsor and, pursuant to such purported authority, to transfer plan accounts to investment providers selected by the administrator; and, the rebuttal of a claim that ERISA fiduciary standards require liquidation of defined benefit pension plan assets within a precise period of time following notice of the plan’s impending termination.
The Wagner Law Group:
The Wagner Law Group has been dedicated to the highest standards of integrity, excellence and thought leadership for over two decades and is considered to be the nation’s preeminent ERISA and employee benefits law firm. With 33 attorneys in eight offices, it provides unparalleled legal advice to its clients, including large, small and nonprofit corporations as well as individuals and government entities nationwide and in several foreign countries. The firm’s attorneys combine many years of experience in their fields of practice and include those who are AV-rated by Martindale-Hubbell and have been named to the prestigious Super Lawyers list for 2018. The Wagner Law Group is certified as a woman-owned and operated business by the Women’s Business Enterprise National Council.
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