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Knight-Swift Transportation Holdings Inc., the nation’s largest full truckload company, has agreed to settle a massive 23,500-member class action accusing it of draining retirement savings through excessive fees tied to its $432 million retirement plan.

The case—spearheaded by workers Robert Hagins and Tommie Woodard—was filed in 2022 and gained class certification in March. A notice filed Monday in Arizona federal court confirmed the parties had reached a settlement in principle, with a request for preliminary approval expected by Oct. 24.

The Heart of the Robert Hagins Workers Suit

The lawsuit alleged that Knight-Swift let plan participants be gouged with $200 in annual fees, while comparable retirement plans charged an average of just $25. Workers also claimed the trucking giant loaded the plan with expensive share classes despite cheaper, identical alternatives—without delivering better returns.

If approved, the settlement would close a high-profile ERISA case that questioned whether Knight-Swift’s retirement plan management violated federal benefits law.

Judge’s Early Rulings Kept Case Alive

Knight-Swift sought dismissal, but U.S. District Judge Roslyn O. Silver refused in May 2023, ruling the workers had shown enough detail to suggest mismanagement.

The company argued that worker comparisons to other plans were invalid because of differences in scale. Judge Silver disagreed, saying the allegations plausibly showed the plan could have secured lower costs.

In March 2024, she granted class certification, rejecting Knight-Swift’s attempt to limit the case to 2019—when Swift and Knight merged. The judge ruled that the plan’s documents consistently dated back to 1992 and that its recordkeeper and investment lineup had remained the same since at least 2016.

Judge Silver also dismissed concerns about whether Hagins and Woodard were fit to lead the case, certifying a class covering all participants and beneficiaries from October 2016 onward.

Attorneys on Both Sides

The class is represented by:

• Michael C. McKay of McKay Law LLC

• Marc R. Edelman of Morgan & Morgan PA

• Brandon J. Hill, Luis A. Cabassa, and Amanda Heystek of Wenzel Fenton Cabassa PA

Knight-Swift is represented by Mark Ogden, Melissa L. Shingles, Wesley E. Stockard, Rachel Kaercher, James S. Fielding, Bradley Crowell, and Angel L. Garrett of Littler Mendelson.

Neither side has yet responded to requests for comment.

What Comes Next

If finalized, the deal could close the Robert Hagins workers suit and bring long-awaited relief to thousands of Knight-Swift employees and retirees. But beyond the payout, the settlement underscores a larger battle over how America’s retirement plans are managed—and whether corporate giants are putting profit over their workers’ futures.