Participants In BB&T 401(k) Plan Seek Approval Of $24M ERISA Settlement

(December 5, 2018, 12:25 PM EST) -- GREENSBORO, N.C. — A class of current and former BB&T Corp. employees who participated in the company’s 401(k) plan and who claim that the company violated the Employee Retirement Income Security Act by causing the plan to pay unreasonable investment management and administrative fees, selecting and retaining underperforming investment vehicles, and engaging in prohibited transaction filed a motion in North Carolina federal court on Nov. 30, seeking preliminary approval of a $24 million settlement (Robert Sims, et al. v. BB&T Corp., No. 15-cv-732-CCE-JEP, M.D. N.C.)....

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