Smith & Nephew Strikes Deal to End 401(k) Fee, Forfeiture Suit

Smith & Nephew Inc. plans to settle a proposed class action challenging its 401(k) plan’s managed account fees and how the medical technology company handles the money forfeited by departing employees.

The parties reached a rough deal and plan to submit paperwork seeking preliminary court approval for their settlement by the end of January, they said in a joint motion asking that case deadlines be put on hold. The motion, filed Dec. 5 in the US District Court for the District of Massachusetts, didn’t include details about the terms of the agreement.

• The lawsuit challenges various fees in the company’s ...