Workers Pitch $7M Deal In T. Rowe Price ERISA Suit

By Abby Wargo (January 10, 2022, 5:46 PM EST) -- T. Rowe Price workers urged a Maryland federal judge to approve a $7 million settlement that would end their class action accusing the investment management company of costing workers $123 million by loading its retirement plan with in-house offerings.

The settlement the workers asked U.S. District Judge James K. Bredar to greenlight would cover over 18,000 T. Rowe Price retirement plan participants and allow them more flexibility with the way their savings are invested.

"Plaintiffs believe the proposed settlement is a good result under the circumstances, which includes a summary judgment opinion in which the court expressed skepticism regarding whether plaintiffs'...

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