SEI Investments’ $6.8 Million 401(k) Settlement Gets Final OK

SEI Investments Co. received final approval from a federal judge in Philadelphia for a $6.8 million settlement of a class action challenging the affiliated funds in its 401(k) plan.

The deal represents payments of about $1,200 to 5,734 people who invested in the company’s 401(k) plan. It resolves allegations that the plan was filled with expensive, poorly performing funds that paid fees to SEI.

Judge Nitza I. Quiñones Alejandro of the U.S. District Court for the Eastern District of Pennsylvania granted final approval to the deal Monday.

Quiñones Alejandro also approved the investors’ request for about $2.3 million in attorneys’ ...