Juniper Workers Defend 401(k) Class Deal Under Adverse Case Law

Current and former Juniper Networks Inc. employees defended the $3 million class settlement they negotiated over the company’s 401(k) plan fees, telling a California judge that a recent appeals court decision slashed their potential damages.

The employees say their estimated damages “declined significantly” in April 2022, after the US Court of Appeals for the Ninth Circuit ruled that Salesforce.com Inc. employees lacked a viable ERISA claim based on the company’s alleged failure to consider passively managed funds for their retirement plan. That decision—which found other claims against Salesforce viable—reduced the Juniper employees’ estimated damages from as much as $26 million ...