( June 5, 2025, 12:12 PM EDT) -- NEW HAVEN, Conn. — A proposed $7.9 million class settlement in which the named plaintiff estimated that the average gross recovery would be “about $40,000” has won preliminary approval; the Employee Retirement Income Security Act case in Connecticut federal court focuses on alleged underperformance that the plaintiff claims was caused by a hedge fund management company directing all the assets of its 401(k) plan into proprietary hedge and mutual funds using “alternative” strategies....