- Boeing (NYSE:BA) reportedly agrees to a preliminary deal to settle a long-running lawsuit accusing the company of mishandling its 401(k) plan to the detriment of its employees.
- The terms of the settlement, which comes on the day a trial was scheduled to begin in the class-action suit, are not known.
- The suit accused the company of failing to uphold its fiduciary duties to employees by allowing excessive 401(k) fees to go unchecked, choosing higher-cost retail mutual funds over cheaper options, and improperly making 401(k) plan decisions to benefit vendors receiving other Boeing business.