O-I Glass Workers’ $5 Million 401(k) Settlement Clears Hurdle

O-I Glass Inc. received initial court approval for a $5 million settlement with workers who said the glass bottle maker’s retirement plans were filled with pricey and underperforming funds managed by a company it previously owned.

Judge Jack Zouhary of the US District Court for the Northern District of Ohio on Tuesday granted preliminary approval to the deal, which is slated to benefit about 10,300 people covered by O-I’s plans since July 2016. He also scheduled an Aug. 15 fairness hearing.

• The lawsuit says O-I allowed nearly 80% of its retirement assets to be invested in funds from Harbor ...