Huntington Bancshares 401(k) Class Counsel Want $3.7 Million

The attorneys who negotiated a $10.5 million ERISA settlement on behalf of participants in Huntington Bancshares Inc.'s 401(k) plan asked an Ohio federal judge to award them nearly $3.7 million in fees and expenses.

A fee of one-third the settlement amount is in line with awards in other Employee Retirement Income Security Act class actions, the attorneys said in a motion filed Tuesday in the U.S. District Court for the Southern District of Ohio.

And it’s warranted because the settlement gives class members about 30% of the total damages alleged in the case, which “compares favorably with other class action ...