Konica Minolta $900,000 Retirement Plan Settlement Gets Final OK

Konica Minolta Business Solutions USA Inc. received final approval for a $900,000 class settlement with employees challenging their retirement plan’s fees and investment options.

The deal resolves an 8,000-person class action and represents about 70% of class members’ anticipated damages at trial, according to court filings. Magistrate Judge Jessica S. Allen granted final approval to the deal and awarded class counsel nearly $320,000 in attorneys’ fees and expenses in a pair of orders issued Wednesday in the US District Court for the District of New Jersey.

• The deal is in line with other recent settlements in 401(k) fee challenges, ...