Boeing to pay $57M in 401(k) lawsuit settlement

Boeing Co. has agreed to pay $57 million to settle a nearly decade-old class action lawsuit, filed by St. Louis attorney Jerry Schlichter, that accused the company of mishandling its 401(k) plan.

Roughly $20.8 million of the settlement would pay for attorney's fees.

The lawsuit claimed Boeing allegedly allowed excessive fees, choosing higher-cost mutual funds over less expensive options and improperly making decisions for the plan to benefit Boeing vendors.

Read more from the St. Louis Business Journal.