Allegation language only. The following describes claims made in public filings or reporting. No defendant is described as guilty or liable unless a court has so found. Settled matters resolved without an admission of liability.
What the lawsuit alleges
Covering about 20,000 workers, the suit alleged recordkeeping fees averaging roughly $73 per participant versus a reasonable ~$30. Reported settled in 2024.
Who may be affected
Current and former participants and beneficiaries of the Magna International 401(k) 401(k) plan during the relevant class period. Eligibility depends on the plan, role, and dates of participation — request a free review to confirm.
Case status & source
Status: Settled (2024) · Reported amount: ~$2.9M.
- Primary source pending — attach the verified public link (court filing, DOL release, or reputable outlet) before publishing.
Related practice area
401(k) plan litigation overview · All plan & employer lawsuits
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