A class of PPL Corp. employees is turning up the pressure in a long-simmering legal battle, asking a federal judge to grant final approval to an $8.2 million settlement in a lawsuit accusing the Pennsylvania-based energy titan of mishandling their retirement savings. The motion, filed Monday before U.S. District Judge Mia Roberts Perez, signals the potential conclusion of a dispute that has spotlighted alleged breaches of fiduciary duty within the company’s 401(k) plan.
“Fair, Adequate, and Reasonable”: Plaintiffs Push for Closure
Describing the agreement as “fundamentally fair, adequate, and reasonable,” the plaintiffs’ motion asserts that the proposed deal serves the best interests of the class — a group composed of current and former participants in PPL’s retirement plan. In a key show of unity, not a single class member has objected to the terms, nor to requests for attorneys’ fees, litigation costs, or representative awards.
“No class member has objected,” the motion states, marking a rare moment of collective agreement in a case that spans years of litigation.
