UnitedHealth to Settle Wells Fargo 401(k) Funds Class Action

UnitedHealth Group Inc. struck a tentative deal to settle a class action challenging the Wells Fargo & Co. target date funds in its $15 billion 401(k) plan.

The parties are working to finalize the class-wide settlement paperwork and plan to update the court on their progress by Oct. 4, they said in a status report filed Wednesday in the US District Court for the District of Minnesota. The filing didn’t include details about the terms of the agreement.

The class action takes aim at the suite of Wells Fargo target date funds chosen as the default investment option in UnitedHealth’s ...