Old Dominion Freight Line Reaches $1.9M Settlement Over 401(k) Fee Mismanagement Allegations

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Legal Maneuvering and a Judicial Pushback

In December 2023, Old Dominion moved to dismiss the lawsuit, claiming the plaintiffs’ figures were flawed. But in a blow to the company, U.S. District Judge Thomas D. Schroeder denied the motion in May 2024, finding the complaint was rich in factual detail and plausibly outlined a breach of fiduciary responsibility.

Judge Schroeder made it clear: at this stage of litigation, the facts as pled are to be taken as true — no shortcuts for corporations on the defensive.

Mediation and a Deal in the Making

A full-day mediation session with Robert A. Meyer in May 2025 didn’t result in an immediate agreement, but the two sides eventually circled back and accepted Meyer’s proposed resolution. Just days later, the parties alerted Judge Schroeder that a settlement was on the table.

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This week, the workers formally asked the court to preliminarily approve the deal, hailing it as a “strong result under the circumstances.” The $1.9 million payout, while representing about 38% of the potential monetary recovery, is considered significant for a case of this type and scale.