Healthways To Settle ERISA Class Action For $1.25M

Law360, New York (December 2, 2010, 8:35 PM EST) -- A federal judge has preliminarily approved a $1.25 million settlement in a class action that accused Healthways Inc. of breaching its fiduciary duty by allowing employee 401(k) funds to be invested in company stock even though executives allegedly knew that was a risky move.

Judge Todd Campbell of the U.S. District Court for the Middle District of Tennessee tentatively signed off on the deal, meant to close the case that charged the Franklin, Tenn.-based health care company, its officers and directors, and members of the investment...
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