$35M Deal Reached In Cigna 401(k) Fees Class Action

Law360, New York (June 21, 2013, 5:22 PM EDT) -- Cigna Corp. and Prudential Retirement Insurance and Annuity Co. have agreed to a $35 million settlement in a putative class action Employee Retirement Income Security Act suit accusing them of imposing excessive fees on Cigna's 401(k) plan, they told an Illinois federal court Friday.  

Cigna, PRIAC and the plaintiffs filed a joint motion Friday asking U.S. District Judge Harold A. Baker to preliminarily approve the deal and certify a settlement class made up of people who held an account in the Cigna retirement plan between April...
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