Attys Get $2.3M Fee For $6.9M Citigroup ERISA Class Deal

Law360 (January 7, 2019, 6:27 PM EST) -- A New York federal judge has awarded $2.3 million to the attorneys for a class of over 300,000 Citigroup Inc. 401(k) plan participants who negotiated a $6.9 million settlement in a long-running Employee Retirement Income Security Act suit in August.

U.S. District Judge Sidney Stein granted final approval to the settlement and fee award on Thursday, closing the book on claims that a Citigroup committee stuffed the company’s 401(k) plan with Citigroup-affiliated funds even though other funds charged lower fees.

The case has been pending since 2007, and its closure came as a relief to class attorney James A. Moore of...

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