DaVita’s $2 Million 401(k) Fee Settlement Gets First Approval

DaVita Inc. received initial court approval for a $2 million settlement with a proposed class of employees challenging the dialysis provider’s 401(k) plan fees.

The agreement is expected to benefit about 56,000 people covered by DaVita’s retirement plan since 2016. Judge William J. Martinez of the US District Court for the District of Colorado signed the preliminary approval order Monday; he also scheduled a Dec. 4 fairness hearing to further evaluate the deal.

• The lawsuit says DaVita filled its $2.6 billion retirement plan with expensive mutual funds and allowed it to pay annual recordkeeping fees as high as $96 per ...