A federal judge approved the proposed $4.7 million settlement of a class-action lawsuit by participants in the SunTrust Banks Inc. 401(k) Savings Plan claiming the Atlanta-based bank violated provisions of the Employee Retirement Income Security Act.

U.S. District Judge Richard W. Story entered the final approval order following a fairness hearing in U.S. District Court for the Northern District of Georgia on June 28. 

The plan is a defined contribution retirement plan sponsored by SunTrust to…

Atlanta Business Journal
Judge approves .7M settlement of 10-year ERISA lawsuit against SunTrust Banks

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