Lowe’s $12.5M 401(k) Class Action Settlement Granted Preliminary Approval

Mealey's (June 17, 2021, 9:56 AM EDT) -- STATESVILLE, N.C. — As participants in Lowe’s Cos. Inc. 401(k) plan prepare to head to trial with Aon Hewitt Investment Consulting Inc. on class allegations that Aon Hewitt breached its duties of loyalty and prudence in a suit challenging the move of more than $1 billion in plan assets to a growth fund, a North Carolina federal judge on June 9 granted preliminary approval to a partial class settlement in which Lowe's and the Administrative Committee of Lowe's Companies Inc. agreed to pay $12.5 million....