Waters Corp. Wants Settlement Approved In Plan Fee, Fund Lawsuit

Waters Corp. asked a district court to preliminarily approve a proposed settlement agreement it reached with a class of retirement plan participants who say the company mismanaged the fund.

The agreement would end allegations from a class of roughly 12,000 employees that Waters’ $1.2 billion retirement fund contained excessive administrative fees and offered under-performing date funds, the class said in their motion for preliminary approval. Waters would provide $800,000 to a settlement fund in exchange for the employees release of their claims under the Employee Retirement Income Security Act.

“This is a significant recovery for the class in relation to ...