Federal Judge in Missouri Approves $16.5 Million Settlement in Suit Against Caterpillar

Missouri Lawyers Media › August 20, 2010

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Summary

A federal judge gave final approval Thursday to a $16.5 million settlement of a class action lawsuit filed against Caterpillar Inc. over fees in its 401(k) plans.

The class consists of about 80,000 people, current and former plan participants dating back to July 1, 1992. All are eligible for monetary relief, and current plan participants will receive their awards through a tax-free 401(k) deposit, according to court filing by St. Louis lawyer Jerome J. Schlichter.

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Federal Judge in Missouri Approves $16.5 Million Settlement in Suit Against Caterpillar

Schlichter, Bogard & Denton is the class counsel for the excessive fee suit against Caterpillar and several others around the...

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