Janus Henderson to Pay $6.5 Million to End 401(k) Class Action

Janus Henderson US (Holdings) Inc. agreed to a $6.5 million settlement in an employee class action claiming the asset-management firm’s 401(k) plan improperly favored its pricey and poor performing in-house funds.

The employees asked Judge Raymond P. Moore for preliminary approval of the agreement in a motion filed Wednesday in the US District Court for the District of Colorado.

The settlement will go to a class of more than 2,000 current and former participants in Janus’ 401(k) and employee stock ownership plan who were invested in any of the firm’s funds since September 2016. The amount will be distributed on ...