After $4.5M ERISA Deal Draws Denial, Parties Report Global Deal In Works

(January 17, 2024, 1:26 PM EST) -- FLORENCE, S.C. — A week after a South Carolina federal judge denied a motion proposing a $4.5 million class settlement of claims against one defendant, the parties in a suit over a retirement plan’s use of proprietary collective investment trusts (CITs) have obtained a stay of all deadlines pursuant to a granted motion in which they reported reaching an unspecified “global agreement in principle on all salient terms of a settlement to fully and finally resolve all claims.”...