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T. Rowe Price ERISA Case Settling? Court Backtracks on Dismissal

July 28, 2021, 12:22 AM

T. Rowe Group Inc. and participants in its $1.7 billion 401(k) plan met Tuesday for settlement talks that could resolve all claims in a lawsuit challenging the financial services organization’s “hardwiring” provision that critics say improperly favors in-house investment funds.

The move came a day after the U.S. District Court for the District of Maryland issued an order indicating that the parties had settled the matter and conditionally dismissing the case. The earlier order “was filed in error and is stricken,” according to a paperless order docketed Tuesday.

Representatives for the parties didn’t immediately respond to Bloomberg Law’s requests for ...