Russell Will Pay $500,000 to Exit Royal Caribbean 401(k) Lawsuit

Russell Investments Trust Co. agreed to pay $500,000 to settle a class action over its handling of Royal Caribbean Cruises Ltd.'s 401(k) plan, while an appeal against the cruise line remains pending.

The partial settlement resolves about 10,000 Royal Caribbean plan participants’ claims against Russell, which they accused of carrying out a “self-serving swap” of their 401(k) investment lineup in favor of its own poorly performing funds. It guarantees the participants “some compensation” without “closing the door on securing a future recovery for the class,” they said in a Monday motion seeking preliminary approval from Judge Robert N. Scola Jr. ...