Software Co. Reaches $1.7M Deal To End 401(k) Suit

By Rachel Stone (December 20, 2021, 3:02 PM EST) -- Computer software company PTC inked a $1.7 million settlement with retirement plan participants to end their Massachusetts federal suit accusing the company of failing to curb excessive plan fees and stick to low-cost investments.

The parties reached the $1,725,000 agreement Friday after a full day of mediation, according to the settlement document. Counsel for the putative class of PTC 401(k) plan participants urged the federal court in a separate filing to approve their motion to certify a class of more than 3,800 participants.

Friday's deal noted that PTC did not admit to any liability. And as part of the agreement, PTC...

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