Iron Mountain Strikes Deal Over 401(k) Plan Administrative Fees

Iron Mountain Inc. will settle a proposed class action by workers who sued the Massachusetts information management company over the administrative fees in its 401(k) plan.

The parties reached a deal to resolve the five-month-old lawsuit during a day-long mediation session and plan to submit settlement paperwork for court approval by mid-December, they said in a status report filed Wednesday in the US District Court for the District of Massachusetts. The filing doesn’t include details about the terms of the agreement.

• The lawsuit, filed on behalf of a proposed class of more than 11,000 people, says Iron Mountain’s 401(k) ...