Advance Auto Part Workers’ $1.7 Million 401(k) Fee Deal Gets Nod

An Advance Auto Parts Inc. subsidiary received initial approval for a $1.7 million settlement that would resolve a 22,000-person class action challenging the fees tied to its employee 401(k) plan.

The deal requires Advance Stores Co. to look for a new retirement recordkeeper within three years and ensure that its plan fiduciaries undergo annual training, according to the settlement motion. Judge Michael F. Urbanski of the US District Court for the Western District of Virginia granted preliminary approval to the deal in an order docketed Wednesday; he also scheduled a July 19 fairness hearing in the case.

• The lawsuit ...