Omnicom Workers Get Final OK for $2.45 Million 401(k) Settlement

Omnicom Group Inc. workers received final court approval for a $2.45 million class settlement resolving their lawsuit over the fees and target date funds in the marketing firm’s 401(k) plan.

The deal is slated to provide more than 35,000 plan participants with about half of their “realistically achievable” damages, according to a settlement motion filed in June. Judge Colleen McMahon of the US District Court for the Southern District of New York granted final approval to the deal Tuesday; she also awarded class counsel more than $800,000 in fees and expenses.

In a separate order, McMahon overruled the lone objection ...