Estée Lauder Workers Nab $975,000 Class Deal Over 401(k) Fees

Estée Lauder Inc. signed a $975,000 settlement agreement that would resolve a class action challenging the fees and investment options in its employees’ 401(k) plan.

The deal provides class members with between 10% and 34% of their maximum potential damages, which is an “excellent result” to the litigation, plan participants said in the settlement motion. It also requires Estée Lauder to use a competitive bidding process to look for a new plan recordkeeper and ensure that members of the plan’s investment committee attend fiduciary training on an annual basis.

The settlement, announced Monday in the US District Court for ...