LinkedIn Will Settle 401(k) Fee Suit After Appellate Guidance

LinkedIn Corp. and a proposed class of participants in the company’s $817 million 401(k) plan will settle litigation challenging the plan’s investment options and administrative expenses.

The parties came to an agreement after negotiations with a neutral mediator and plan to file a motion describing the deal for court approval by Dec. 9, they told Judge Edward J. Davila in a status report filed Nov. 4 in the US District Court for the Northern District of California.

The lawsuit accuses LinkedIn of filling its retirement plan with high-cost actively managed funds and improperly favoring funds that paid fees to the ...