Aegis Media Employees Finalize $500,000 Retirement Fee Agreement

Aegis Media Americas Inc. employees secured final court approval for a $500,000 class settlement resolving their challenge to the advertiser’s retirement plan fees and investment options.

The agreement is “fair, reasonable, and adequate, taking into account the costs, risks, and delay of trial and appeal,” according to the order signed by Judge Margaret M. Gannett Wednesday for the US District Court for the Southern District of New York. The settlement resolves an 11,775-person class action covering all the Aegis plan’s participants and beneficiaries between May 2014 and August 2024. It requires Aegis to look for a new 401(k) recordkeeper within ...