Pentegra Retirement Services Inc. and a class of 401(k) plan participants received the final go-ahead needed to crystallize a $48.5 million settlement in a lawsuit over fees associated with a retirement plan.
Judge Philip M. Halpern granted the participants’ motion for final approval of the settlement on Tuesday to end the lawsuit, which scored a rare, multimillion-dollar jury verdict in April. Halpern of the US District Court for the Southern District of New York also greenlit around $17.5 million in attorneys’ fees and expenses.
- The litigation centered around the participants’ allegations that Pentegra violated the Employee Retirement Income Security Act ...