Adidas Defeats Challenge to Fees in $620 Million 401(k) Plan

Adidas Americas Inc. defeated a proposed class action challenging the fees in its $620 million 401(k) plan when a federal judge in Oregon adopted a magistrate report recommending the case be dismissed in its entirety.

Judge Karin J. Immergut of the U.S. District Court for the District of Oregon dismissed the case in a two-page order filed Tuesday. Immergut adopted an August report in which a federal magistrate judge recommended dismissal, explaining that no party had filed an objection asking her to do otherwise.

The lawsuit claims the Adidas plan paid more than $6 million in excess fees when compared ...