Veterinary Provider VCA Gets Nod for 401(k) Deal After Hiccup

Veterinary care provider VCA Inc. received initial approval for a $1.5 million class settlement with participants in its retirement plan, despite signals from a federal judge that the deal may not be structured correctly.

Judge George H. Wu on Wednesday granted preliminary approval to the settlement, which is expected to benefit about 24,000 people who participated in the VCA 401(k) plan between 2015 and 2020.

The move comes one week after Wu issued a tentative ruling expressing confusion over which federal rule governing class actions applies to the settlement.

In the tentative ruling, Wu said he “cannot ascertain why” the ...