Illinois Participants, Boeing Settle Excessive-Fee Case On Eve Of Trial
(August 31, 2015, 1:45 PM EDT) -- EAST ST. LOUIS, Ill. — Boeing Co. and participants in its 401(k) plan reached a provisional settlement on claims under the Employee Retirement Income Security Act related to excessive fees, ending nine years of litigation and canceling the bench trial that was set to begin Aug. 26 (Gary Spano, et al. v. The Boeing Company, et al., No. 06-743, S.D. Ill.).
U.S. Judge Nancy J. Rosenstengel of the Southern District of Illinois will set deadlines for preliminary approval of the proposed settlement on Sept. 24....