Fidelity to Pay $12 Million to Settle 401(k) Suits

Employees alleged the mutual fund company’s own 401(k) charged excessive fees.

Fidelity Investments has agreed to pay $12 million to settle two lawsuits brought by its own employees that alleged the mutual fund giant charged excessive fees in the company’s own 401(k) plans.

It admitted no wrongdoing in settling the cases, Bilewicz v. FMR LLC and Yeaw v. FMR LLC

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