Juniper Networks’ $3 Million 401(k) Deal Approved, With Fee Trim

Current and former Juniper Networks Inc. employees received final approval for a $3 million class settlement over the company’s 401(k) plan fees, but a California judge awarded them only about half of their requested attorneys’ fees.

Judge James Donato granted final approval to the deal Monday, after initially expressing doubt that the $3 million figure was sufficient given the plan participants’ estimated damages of about $26 million. The participants defended the deal last year, saying their potential damages declined significantly after a 2022 decision in which the Ninth Circuit rejected ERISA claims based on a company’s alleged failure to consider ...