For the last five years, Schneider Wallace Cottrell Konecky has intensively litigated on behalf of Washington University workers in a class action lawsuit for the University’s alleged breach of fiduciary duties in managing and administering its retirement plan. Washington University has agreed to pay $7.5 million to resolve the claims alleged in the case.

In January 2022, the parties engaged in neutral mediation and reached a preliminary settlement of $7.5 million on April 15, 2022. The class consists of “all persons who participated in the Plan at any time during the Settlement Class Period, including any Beneficiary of a deceased person who participated in the Plan at any time during the Settlement Class Period, and any Alternate Payee of a person subject to a Qualified Domestic Relations Order that was in effect before the end of the Settlement Class Period”. The settlement class period is defined as June 8, 2011 through March 31, 2022.