Lowe’s Settles Class Claims Over 401(k) Plan’s Move to Aon Fund

Lowe’s Companies Inc. will settle claims that it mismanaged its 401(k) plan by moving assets to an underperforming Aon Hewitt fund, partially resolving a 250,000-person class action pending in the Western District of North Carolina.

The company and the class of retirement plan investors on Thursday advised Judge Kenneth D. Bell that they’d reached a settlement, less than three weeks before the case was scheduled to begin trial. The investors’ pending claims against Aon Hewitt will now be tried in late June, Bell said in an electronic docket entry.

Bell, of the U.S. District Court for the Western District of ...