Xerox Corp. plans to settle litigation by a proposed class of workers who say their $4.3 billion 401(k) plan is managed by an expensive, in-house record keeper, a filing in Connecticut federal court shows.
The parties engaged in private mediation and reached an agreement to resolve the Employee Retirement Income Security Act lawsuit on a classwide basis, they told Judge Sarala V. Nagala in an Oct. 14 filing. They requested a Dec. 16 deadline to submit the deal for preliminary approval.
The lawsuit, pending in the US District Court for the District of Connecticut, claims that Xerox entered the retirement ...
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