$14M Class Action Settlement Preliminarily Approved By Federal Magistrate Judge

Mealey's (January 3, 2018, 5:11 PM EST) -- SAN JOSE, Calif. — A California federal magistrate judge on Dec. 22 entered an order preliminarily approving a $14 million class action settlement in a suit in which participants of Fujitsu Technology and Business of America Inc.’s 401(k) plan alleged that the plan breached its fiduciary duty by charging excessive fees and by mismanaging the company’s defined contribution retirement plan (Jerry Johnson, et al. v. Fujitsu Technology and Business of America Inc., et al., No. 16-3698, N.D. Calif.)....