Judge Calls for Further Details, Declining $2.5 Million Settlement in NVIDIA 401(k) Lawsuit
SAN JOSE, Calif. — A U.S. District Judge has recently dismissed a proposed settlement in a lawsuit alleging mismanagement of NVIDIA’s 401(k) plan. The $2.5 million agreement did not suffice for Judge Edward Davila, located in San Jose, who has requested additional information before approving the deal. The lawsuit, initiated by employees participating in the technology company’s 401(k) plan, accused plan administrators of several missteps, including the failure to properly oversee the plan, resulting in excessive fees and underperforming investments. The legal battle underscores the growing scrutiny over how retirement plans are managed, particularly in … Read more