Janus Henderson Strikes Deal Over In-House 401(k) Investments

Janus Henderson US (Holdings) Inc. agreed to settle a proposed class action by employees who say their 401(k) plan improperly favored the company’s own expensive and poorly-performing funds.

The parties expect to submit settlement paperwork for court approval by April 8. Their joint notice, filed Tuesday in the US District Court for the District of Colorado, didn’t include details about the terms of the class-wide agreement.

• The lawsuit says Janus violated the Employee Retirement Income Security Act by acting with “blind preference” for its own proprietary investment products and filling the 401(k) plan covering its workforce with every mutual ...