Benefits & Executive Compensation News

Northrop Grumman Workers Get Class Status in 401(k) Lawsuit

Nov. 6, 2017, 2:31 PM

Northrop Grumman Corp. employees won class-action status in their lawsuit accusing the company of forcing them to pay nearly $10 million in excessive retirement plan fees that went directly in the defense contractor’s pockets.

A federal judge Nov. 2 granted class status to as many as 100,000 people who participate in Northrop Grumman’s retirement plan. Class treatment is appropriate, the judge said, because the lawsuit raises questions about Northrop’s conduct that apply similarly to all proposed class members, and any relief obtained by the plan participants will benefit the plan as a whole (Marshall v. Northrop Grumman Corp., C.D. Cal., No. 2:16-cv-06794-AB-JC, order granting class certification 11/2/17

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