Aegis Media Workers’ $500,000 Retirement Fee Deal Gets First Nod

Aegis Media Americas Inc. received initial court approval for a $500,000 class settlement with workers who challenged the advertiser’s retirement plan fees and investment options.

The deal would resolve a 11,775-person class action covering all the Aegis plan’s participants and beneficiaries since May 2014. It requires Aegis to look for a new 401(k) recordkeeper within three years and to institute two hours of mandatory fiduciary training each year for the members of its retirement plan committee, according to the settlement motion.

• Judge Margaret M. Garnett of the US District Court for the Southern District of New York granted preliminary ...