Teva, Workers Reach Deal To Settle 401(k) Fee Suit

Law360 (October 16, 2020, 10:48 PM EDT) -- A Pennsylvania federal judge gave Teva Pharmaceuticals the go-ahead Friday to draw up settlement paperwork in a deal with roughly 10,000 current and former workers in a lawsuit over the drugmaker's 401(k) plan fees and investments.

U.S. District Judge Mark A. Kearney's order gives the company and its workers a month to seek preliminary approval of a settlement over allegations that Teva flouted the Employee Retirement Income Security Act by letting its 401(k) plan charge excessive fees and failing to look after the plan's investment portfolio. The paperwork would put Teva and its workers on track to finalize the settlement they have reached in...

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