Lawyers Suing Oasis Outsourcing Over 401(k) Want $2M in Fees

Lawyers representing investors in Oasis Outsourcing Holdings Inc.'s 401(k) plan want nearly $2 million in fees after settling a proposed class action for almost $6 million.

Nichols Kaster PLLP and Morgan & Morgan Complex Litigation Group on Oct. 22 asked a federal judge to approve a $1,999,667 attorneys’ fee award, representing one third of the settlement they negotiated on behalf of Oasis 401(k) investors. The investors, who accused the company of offering bad 401(k) investment options and paying excessive retirement plan fees to Lincoln Financial, filed settlement paperwork on Aug. 17, the same day they filed their complaint. ...