AmerisourceBergen Gets Court Nod for 401(k) Plan Fee Settlement

A $625,000 class settlement benefiting participants in AmerisourceBergen Corp.'s retirement plan received initial approval, paving the way for resolution of a challenge to the pharmaceutical company’s 401(k) fee levels.

The agreement is slated to provide average net payments of about $7 to more than 51,000 people with account balances in the AmerisourceBergen 401(k) plan since June 2017, which represents about 19.5% of their alleged losses. Judge David J. Hale of the US District Court for the Western District of Kentucky on Aug. 29 granted preliminary approval to the deal and scheduled a Nov. 7 fairness hearing.

• Hale previously greenlighted claims ...