Univar Solutions Workers’ 401(k) Settlement Gets First Approval

Univar Solutions USA Inc. received initial court approval for a $1.1 million class settlement with former employees who say their 401(k) plan charges high fees and offers risk target date funds.

The deal is slated to benefit a proposed class of thousands of Univar plan participants and beneficiaries since 2016. It would resolve allegations that the chemical and ingredients distributor mismanaged its $978 million plan by overpaying for administrative services and offering underperforming and risky target date funds.

• Judge Robert W. Gettleman announced he’d granted preliminary approval to the deal in a docket entry issued Tuesday in the US District ...