Wal-Mart Stores Inc., the largest U.S. private employer, andMerrill Lynch won a judge's final approval to pay $13.5 million tosettle claims the retailer's employees were charged excessive401(k) fees.
U.S. District Judge Gary A. Fenner in Missouri approved theaccord at a hearing today, according to the court docket. MerrillLynch, the plan's trustee, now part of Bank of America Corp., willpay $10 million and Bentonville, Arkansas-based Wal-Mart will pay$3.5 million.
The docket entry said the “court orally grants motion forapproval of class action settlement” and “written order to beissued.”
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