Konica Minolta Workers Get 8,000-Person Class Over 401(k) Fees

Konica Minolta Business Solutions USA Inc. employees can challenge the fees and investment funds in their 401(k) plan as a certified class of more than 8,000 people, a New Jersey federal judge ruled.

The class covers all the plan’s participants and beneficiaries since June 2014, with defendants and their immediate family members excluded. Each class member’s claim centers on common factual questions about whether the plan’s investment options were prudent and whether the company’s retirement plan committee appropriately monitored administrative fees, Judge Evelyn Padin said in an unpublished order issued Thursday in the US District Court for the District of ...