Fujitsu Agrees To $14M Deal Over Excessive Investment Fees

Law360, New York (December 7, 2017, 6:23 PM EST) -- Fujitsu has agreed to pay $14 million to end a nearly $150 million proposed class action alleging it paid more in fees to invest the retirement funds of nearly 23,000 current and former workers than it needed to, the workers told a California federal judge on Wednesday.

The workers urged U.S. Magistrate Judge Nathanael M. Cousins to approve a deal worth roughly $600 per class member, arguing it compares favorably to other settlements in Employee Retirement Income Security Act excessive fees suits. The deal amount is...
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