LinkedIn to Settle Class Suit Over 401(k) Fees for $6.75 Million

LinkedIn Corp. signed a $6.75 million class settlement with workers who claimed the company filled its 401(k) plan with high-cost actively managed funds and funds that improperly favored the plan’s third-party service providers.

The settlement is expected to benefit about 17,000 people covered by LinkedIn’s $818 million retirement plan. It represents about 68% of the “midpoint of the most likely range of losses,” the plaintiff plan participants said in a March 3 settlement motion filed in the US District Court for the Northern District of California.

The lawsuit is one of more than 200 proposed class actions challenging retirement plan ...