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Member, Beacon International Group, Ltd.
The Coca-Cola Bottlers’ Association has agreed to settle for $3.3 million a claim brought against it by a former employee under the Employee Retirement Income Security Act in the U.S. District Court for the District of Kansas, Plansponsor reports. The initial complaint, brought in February 2021, alleged that the association had paid overpriced management and recordkeeping fees and had kept an undiversified Coca-Cola Common Stock Fund in its investment menu, the report says.