CenterPoint Energy Will Pay $800,000 to End 401(k) Fee Lawsuit

CenterPoint Energy Inc. negotiated a class settlement worth $800,000 in a lawsuit by workers who said the fees charged by the Texas utility company’s 401(k) plan were too high.

The proposed deal would provide nearly 12,000 participants in the CenterPoint plan with about 22% of their best-case damages in the case, according to a Tuesday motion seeking preliminary approval from Judge George C. Hanks Jr. of the US District Court for the Southern District of Texas.

• The year-old lawsuit accused CenterPoint of failing to rein in the administrative fees charged by its 401(k) plan, which allegedly ranged between $177 and ...