SeaWorld Cleared for $1.25 Million Class Deal Over 401(k) Fees

SeaWorld Parks & Entertainment Inc. finalized a $1.25 million class settlement resolving litigation over its employees’ 401(k) plan fees and investment options.

Judge Robert S. Huie of the US District Court for the Southern District of California granted final approval to the deal Wednesday, saying it represents about 11.5% of the employees’ maximum estimated recovery in the case.

• Huie also awarded class counsel $375,000 in attorneys’ fees and nearly $275,000 in expenses, saying a 30% fee award was more appropriate than the requested 35% because the deal is “fair” but not “exceptional”
• The settlement covers 35,654 people and resolves claims ...