Vituity Gets Court’s First OK for $8.75 Million 401(k) Accord

Vituity workers received initial court approval for their $8.75 million class settlement in a lawsuit accusing the California-based health-care company of mismanaging their 401(k) plan through high fees and faulty investments.

The deal, which is expected to benefit more than 7,000 people covered by the Vituity plan between November 2017 and January 2025, represents about 32% of the plan participants’ maximum potential damages in the case, and nearly 90% of the fees Vituity charged the plan for its administrative services during the relevant time period, according to court filings.

• Judge Richard Seeborg granted preliminary approval to the deal and ...