Northern Trust’s $2.5 Million Deal Over AutoZone 401(k) Approved

Northern Trust Corp. finalized a $2.5 million class settlement with AutoZone Inc. workers challenging the fees and investment allocation services in their 401(k) plan.

Judge Mark S. Norris granted final approval to the deal and awarded class counsel nearly $1.3 million in fees and expenses in a Feb. 7 order.

The settlement resolves claims against Northern Trust, an investment adviser for the 401(k) plan. It doesn’t affect the workers’ pending claims against automotive parts retailer AutoZone, which went to trial in October 2023. The settlement also blocks AutoZone and Northern Trust from bringing claims against one another in connection ...