Lehigh Valley Health Strikes Deal in 401(k) Fee, Forfeiture Suit

Lehigh Valley Health Network Inc. plans to settle a proposed class action by former employees claiming the health system mismanages their retirement plan by paying excessive fees and mishandling money forfeited by departing workers.

The parties reached an agreement after a private mediation session and plan to submit the deal for court approval or provide a further update by July 21, they told Judge John M. Gallagher. Their status update, filed Tuesday in the US District Court for the Eastern District of Pennsylvania, didn’t include details about the terms of the settlement.

• The eight-month-old lawsuit says Lehigh plan ...