Cedars-Sinai Medical Center Inc. finalized a $2.97 million class settlement, resolving a lawsuit by workers challenging their retirement plan’s fees and investment options.
The settlement represents about 34% of the case’s potential damages and will benefit about 25,000 people. Judge Josephine L. Staton of the US District Court for the Central District of California granted final approval to the deal and awarded class counsel $860,000 in attorneys’ fees—a reduction from their requested $990,000—in a Feb. 6 order.
- Staton also granted contribution awards of $4,000 to each of the three class representatives, saying their request for $7,500 each wasn’t justified ...