Nvidia’s $2.5 Million 401(k) Accord Gets Judge’s Cold Shoulder

A federal judge refused to sign off on Nvidia Corp.'s $2.5 million class settlement with employees challenging their 401(k) fees, saying he has lingering questions about the deal’s fairness.

Judge Jon S. Tigar on Thursday expressed concerns about how the proposed settlement would transfer those checks sent to class members but not cashed to the company’s 401(k) plan to “defray administrative fees.” This appears to allow Nvidia to benefit from the settlement and thus may be problematically reversionary, Tigar said, adding that it’s not clear whether these amounts will be tracked to ensure plan participants are paying less in fees ...