Takeda Workers’ Lawyers Want $7.4 Million After 401(k) Accord

The attorneys who negotiated a $22 million class settlement with Takeda Pharmaceuticals USA Inc. over the target date funds in its 401(k) plan asked a Boston federal court to award them nearly $7.4 million in attorneys’ fees and costs.

A fee award of one-third the settlement amount is warranted based on the “pioneering and unequaled experience in 401(k) litigation” that attorneys with Schlichter Bogard & Denton LLP brought to the case, the firm said in a Jan. 20 motion. The settlement, which includes both a monetary component and ongoing improvements to the 401(k) plan, is both an “outstanding result” ...