October 29, 2019 / 8:46 PM / 16 days ago

IN BRIEF: MIT proposes $18 mln settlement in lawsuit over 401(k) fees

The Massachusetts Institute of Technology (MIT) has agreed to pay $18.1 million to settle claims that it violated federal law by including investment options with excessive fees in an employee 401(k) plan.

MIT, represented by O’Melveny & Myers, and the plaintiffs’ lawyers at Schlichter Bogard & Denton filed a motion in Boston federal court seeking preliminary approval of the settlement, which would end a 2016 lawsuit.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/348h1gM

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