PPL Corp. Strikes Deal With Workers, Averting 401(k) Fund Trial

PPL Corp. workers reached a settlement with the publicly traded utility company, averting a looming trial over the Northern Trust target date funds in their retirement plans.

The parties announced they’d struck a deal in an email to the court, Judge Mia R. Perez said in a Wednesday order adjourning all trial-related proceedings. The three-year-old class action was scheduled to go to trial next week in the US District Court for the Eastern District of Pennsylvania.

The lawsuit takes aim at a suite of collective investment trust target date funds from Northern Trust, which isn’t named as a defendant. The ...