Meritor Settles Challenge to 401(k) Fees, Investment Options

August 29, 2021

Aug. 27, 2021, 12:26 PM

Auto part maker Meritor Inc. reached a class settlement to end a lawsuit challenging the administrative fees and investment options in its $616 million 401(k) plan, according to papers filed in a federal court in Detroit.

The parties on Thursday told Judge Stephen J. Murphy III of the U.S. District Court for the Eastern District of Michigan that they’d reached a class settlement and plan to file the deal for his approval by late October.

The filing didn’t include details about the deal, and attorneys for the parties didn’t provide details when contacted by Bloomberg Law.

The lawsuit claims Meritor’s ...