T. Rowe Price Gets Final Approval for $7 Million 401(k) Deal

A $7 million settlement between T. Rowe Price Group Inc. and a class of 18,000 participants in the company’s 401(k) plan received final approval in Maryland federal court, as did a $3.5 million fee award for the participants’ lawyers.

Chief Judge James K. Bredar of the US District Court for the District of Maryland on Wednesday approved the deal and awarded class counsel all their requested fees, along with more than $700,000 in expenses. In an earlier order, Bredar said he’d “have concerns” about the size of the fee request were it not for a separate $6.6 million payment ...