Daikin America, Workers End Litigation Over 401(k) Fees, Funds

June 29, 2021

June 29, 2021, 7:24 PM

Daikin America Inc. and a proposed class of participants in the company’s $120 million 401(k) plan are ending their legal battle over the plan’s fees and investment options, papers filed in Manhattan federal court show.

The stipulation of dismissal, filed Monday in the U.S. District Court for the Southern District of New York, comes two months after Judge Paul A. Crotty dismissed the participants’ Employee Retirement Income Security Act claims. The participants appealed that ruling to the U.S. Court of Appeals for the Second Circuit, but the parties reached a settlement before filing appellate briefs.

The stipulation doesn’t include details ...