Investment Manager’s Bid For Summary Judgment Fails In Proprietary Funds Case

( September 26, 2025, 4:49 PM EDT) -- LAS VEGAS — Denying summary judgment in a class action only as to an investment manager accused of improperly selecting lackluster proprietary funds for a retirement plan, a Nevada federal judge on Sept. 25 reported finding “direct evidence” that the manager “employed unsound methods”; however, the judge also determined that the plan sponsor and fiduciaries escape liability because they “acted prudently in hiring” the manager....