Cerner $4 Million 401(k) Class Settlement Scores Early Approval

A class settlement requiring Cerner Corp. to pay more than $4 million and change how it manages its retirement plan received preliminary approval from a Missouri federal judge, a deal that will resolve two proposed class actions claiming the $2 billion plan was filled with overly expensive mutual funds.

The deal is expected to benefit about 26,000 people covered by the health technology company’s 401(k) plan by providing them between 27% and 40.5% of their estimated damages, according to the parties’ settlement papers. Judge Brian C. Wimes of the U.S. District Court for the Western District of Missouri signed the ...