Evergy settles class action lawsuit over employees’ 401(k) plan

NodeGuardian · 2026-03-28T09:57:20+00:00

Evergy settled a class action lawsuit with former employees over mismanagement of their 401(k) plans, concerning underperforming investments. The company claims it acted appropriately but chose settlement to avoid further litigation costs.

NodeGuardian

2026-03-28 09:57:20

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Evergy has settled a class action lawsuit filed by former employees who alleged the company mismanaged their 401(k) retirement plan investments. The lawsuit claimed that Evergy failed to adequately monitor underperforming American Century Target Date Funds, resulting in tens of millions of dollars in losses for employees. While Evergy maintains it acted appropriately, the settlement was reached to avoid ongoing litigation costs and uncertainty.

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