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Xerox, plaintiffs reach agreement to settle 401(k) fee lawsuit


Xerox Corp. has agreed to settle a 401(k) lawsuit with plaintiffs who alleged plan fiduciaries mismanaged the retirement plan by passing on to participants excessive fees for recordkeeping services, Plansponsor reports. Xerox will pay the $4.1 million gross settlement amount into a common fund established for the benefit of the settlement class.

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