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Courts Approve Two Class Action Settlements Totaling $50 Million in Retirement Plan Cases Filed by Nichols Kaster, PLLP

On February 17 and 18, 2021, Nichols Kaster, PLLP received final court approval of two class action settlements totaling $50 million. Both cases were brought on behalf of retirement plan participants by the firm’s 401(k) and retirement plan benefits team. The first settlement provides for $39.5 million in relief to eligible participants and beneficiaries of the McKinsey & Company, Inc. Profit-Sharing Retirement Plan and the McKinsey & Company, Inc. Money Purchase Pension Plan. The second settlement provides for $10.5 million in relief to eligible participants and beneficiaries of the Huntington 401(k) Plan (formerly known as the Huntington Investment and Tax Savings Plan). For more information about the settlement involving the McKinsey & Company plans, click here. For more information about the settlement involving the Huntington 401(k) plan, click here.