Cedars-Sinai Retirement Fee Challenge Settles for $2.97 Million

Cedars-Sinai Medical Center Inc. signed a $2.97 million class settlement with workers challenging the Los Angeles hospital’s retirement plan fees and investment options.

The proposed deal would benefit about 25,000 people covered by the Cedars-Sinai plan since June 2017. It represents about 34% of the workers’ total potential damages in the case, according to a motion for preliminary settlement approval filed Tuesday in the US District Court for the Central District of California.

The deal is subject to approval from Judge Josephine L. Staton, who last year declined to certify the matter as a class action. The would-be class ...