Grifols Shared Services Gets Initial OK for 401(k) Settlement

Health-care and bioscience company Grifols Shared Services NA received preliminary approval for a class settlement valued at more than $1.4 million in a lawsuit challenging the fees and funds in its $1 billion 401(k) plan.

The deal is expected to provide payments to about 10,000 people covered by the Grifols retirement plan since 2016. It represents about 20% of the plan participants’ total estimated damages, according to the settlement motion.

Judge Sherilyn Peace Garnett of the US District Court for the Central District of California on Nov. 3 granted preliminary approval to the deal and scheduled a March 13, 2024, ...