LinkedIn’s $6.75 Million 401(k) Fee Class Deal Gets Final Nod

LinkedIn Corp. will pay $6.75 million to more than 17,000 current and former employees under a settlement a federal judge approved in a lawsuit alleging the company’s 401(k) plan fiduciaries didn’t properly monitor investments.

The plan participants accused the social media site of violating the Employee Retirement Income Security Act for allegedly retaining “imprudent investments instead of readily available suitable alternative” ones and causing the plan to pay unreasonable expenses. Plaintiffs’ experts estimated damages from $3.9 million to $15.9 million during the six-year class period.

Judge Edward J. Davila of the US District Court for the Northern District of California, ...