Employees of Northrup Grumman settled a class action with their employer for $12.3 million regarding allegations that the company’s 401(k) plan used an excessively costly management strategy. The dispute had been ongoing for 13 years. The case was set for trial in October after three years of briefing, but the settlement in principle headed off the trial minutes before it started.
The case is Clifton W. Marshall et al. v. Northrop Grumman Corp. et al., case number 2:16-cv-06794, in the U.S. District Court for the Central District of California.
This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.