Nvidia Settles Class Action Over Excessive 401(k) Plan Fees

Nvidia Corp. has reached a proposed settlement with former participants of the company’s retirement plan over claims that they were forced to pay exorbitant administrative fees.

The four named plaintiffs—representing a putative class of more than 10,000 people—agreed to stay the proceedings pending mediation, according to a stipulation signed by Judge Jon S. Tigar with the US District Court for the Northern District of California. The parties will complete a draft settlement agreement and file a motion for preliminary approval by Nov. 26, Tigar said Oct 1.

• At least 10,033 people participated in the computer graphics company’s plan as of ...