Lowe’s Agrees To Settle 401(k) Class Action For $12.5M; Aon Hewitt Heads To Trial

Mealey's (June 3, 2021, 12:17 PM 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 class suit challenging the move of more than $1 billion in plan assets to a growth fund, Lowe's Cos. Inc. and the Administrative Committee of Lowe's Companies Inc. (collectively, the Lowe’s defendants) have agreed to a $12.5 million settlement with the class, the parties informed a North Carolina federal judge in numerous May 28 filings....