Ricoh USA Settles 2 Class Suits Over Its Handling of 401(k) Plan

Ricoh USA Inc. and the plaintiffs in two class actions who challenged the management of its $2 billion retirement plan indicated they’ve reached an agreement to settle the lawsuits.

The notice of settlement filed Thursday by plaintiff and former Ricoh employee, Cleo Batten, in the US District Court for the Eastern District of Pennsylvania said the parties reached an agreement in his case, additionally indicating a settlement in a suit filed in the same court by Keith K. Kruchten and other plan members, who also filed a status report in their case. The settlements’ details weren’t revealed, but the notice ...