IQVIA Workers’ $3.5 Million 401(k) Agreement Gets First Approval

Health-care technology company IQVIA Inc. received initial approval for a $3.5 million class settlement with workers who said their 401(k) plan offered offered pricey and poorly performing Fidelity target date funds.

The deal, which is slated to benefit a class of employees covered by IQVIA’s retirement plan since 2014, comes about three months before the Employee Retirement Income Security Act lawsuit was scheduled to go to trial. The $3.5 million settlement amount represents about 50% of the “realistically recoverable” damages at trial, an attorney for the workers said in a court filing.

Judge William L. Osteen Jr. of ...