Credit Union 401(k) Fee Suit Settles After Class Status Denial

Participants challenging fees tied to the Credit Union Retirement Association 401(k) Plan negotiated a class-wide settlement despite failing to secure a court order certifying the lawsuit as a class action.

The parties reached a settlement in principle and plan to file the agreement for court approval by Aug. 2, they said in a Wednesday filing. Details of the proposed deal aren’t yet available.

The move comes five months after Judge James D. Peterson of the US District Court for the Western District of Wisconsin denied the participants’ request to certify a class of 9,000 people. Peterson dinged the proposed ...