Sprint Settlement Reached

The class action lawsuit against trustees of the Sprint Corporation's 401(k) plan was one of the largest "stock-drop" lawsuits to date. It has now been settled out of court for a relatively modest $25 million. Each class member will get $63 in cash. The company will also increase its 401(k) match to 100% for at least one year and will provide employees with financial education about retirement investing. The judge ruled that the settlement, while small, was acceptable because the plaintiffs faced a substantial risk of winning less, or even nothing at all, had they proceeded to trial.