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Konica Minolta Settles Class Action Over
401(k) Fees and Investments Lawsuit With 8,000 Employees.
Konica Minolta Business Solutions USA Inc. has reached a settlement in a class action lawsuit involving 8,000 employees who challenged the fees and investment options in their 401(k) plan.The case, which was certified as a class action earlier this year, claims that the company’s 401(k) committee mismanaged the plan, including issues with investment performance and administrative fees.
Following a private mediation session, the parties are set to submit their settlement agreement for court approval by November 29, as indicated in a joint status report filed Tuesday in the U.S. District Court for the District of New Jersey. Specific details about the settlement terms were not disclosed.
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