Ferguson Enterprises Settles 401(k) Fee Spat for $1.8 Million

Ferguson Enterprises LLC signed a $1.8 million class settlement aimed at resolving litigation over the administrative fees associated with its employees’ 401(k) plan.

The agreement is slated to benefit more than 70,000 people covered by the Ferguson plan. It represents about 24% of the employees’ maximum potential damages, they said in a Thursday motion seeking settlement approval from the US District Court for the Northern District of California.

• Judge Araceli Martínez-Olguín dismissed the plan participants’ claims in 2024 but allowed them to file an amended complaint
• In May, the judge rejected the participants’ attempt to add new claims challenging the ...