American Red Cross Gets Final Approval for $950,000 ERISA Deal

American National Red Cross workers finalized a $950,000 class settlement resolving their lawsuit challenging the Northern Trust target-date funds in their retirement plan.

The deal is expected to provide more than 20,000 retirement plan participants with about 7% of their total potential damages in the case.

• Judge Ana C. Reyes granted final approval to the deal and awarded class counsel more than $330,000 in attorneys’ fees and expenses in a pair of orders issued Wednesday in the US District Court for the District of Columbia
• The four-year-old lawsuit, which was allowed to advance last year, says the Red Cross failed ...