Konica Minolta Workers File Class Bid in 401(k) Plan Fee Lawsuit

Konica Minolta Business Solutions USA Inc. employees challenging the fees and investment funds in their 401(k) plan asked a federal judge to certify their case as a class action covering about 9,000 people.

The employees’ motion, filed Nov. 10 in the US District Court for the District of New Jersey, seeks a class covering all the Konica Minolta plan’s participants and beneficiaries since June 2014, with the defendants and their immediate family members excluded. The plan had between 8,117 and 9,220 participants with account balances during this period, according to the motion.

“In light of the inherently representative nature ...