March 29, 2019 / 1:56 AM / 5 months ago

Robotics firm ABB settles 401(k) row for $55 mln

Robotics company ABB Inc will pay $55 million to settle a long-running class-action lawsuit claiming it used excessive fees charged to 401(k) plan participants to subsidize the cost of running the plan.

ABB and lawyers for the plaintiffs moved for approval of the deal in a joint filing in federal court in Missouri on Thursday. ABB did not admit any wrongdoing as part of the settlement.

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