Knight-Swift Strikes Deal to End Pair of 401(k) Plan Lawsuits

Knight-Swift Transportation Holdings Inc. negotiated a class-wide settlement aimed at resolving a pair of lawsuits challenging various aspects of its 401(k) plan.

The proposed deal would resolve a 23,000-person class action claiming the company’s retirement plan fees are too high, along with a proposed class lawsuit saying the company wrongly uses 401(k) forfeitures for its own benefit. The parties plan to submit details of the agreement for court approval by late October, they told Judge Roslyn O. Silver in a settlement notice filed Monday in the US District Court for the District of Arizona.

One lawsuit says Knight-Swift failed to ...