Advantage Solutions Gets Nod For Partial 401(k) Suit Settlement

Advantage Solutions received initial court approval for a $125,000 class settlement that resolves portions of a lawsuit over its 401(k) plan management while allowing other aspects of the case to proceed.

The partial settlement resolves claims that tens of thousands of Advantage 401(k) plan participants paid excessive administrative fees. It requires the company to look for a new 401(k) recordkeeper and doesn’t affect plaintiffs’ ability to continue pressing claims that Advantage failed to properly monitor the plan’s funds and saddled them with an imprudent investment option.

• Judge Andre Birotté Jr. granted preliminary approval to the deal and scheduled an April ...