Vituity Gets Final Approval for $8.75 Million 401(k) Settlement

Vituity workers finalized an $8.75 million class settlement resolving allegations that the California-based health-care company mismanaged their 401(k) plan through high fees and faulty investments.

The deal, which is expected to benefit more than 7,000 people covered by the Vituity plan between November 2017 and January 2025, represents about 32% of the employees’ maximum damages in the case, and nearly 90% of the fees Vituity charged the plan for its administrative services during the relevant period. Judge Richard Seeborg granted final approval to the agreement and awarded class counsel nearly $2.2 million in attorneys’ fees and expenses in a pair ...