The Settlement. The Settlement was reached on May 11, 2018. Class Counsel filed this action on May 10, 2018. Over two years prior to the filing of this action, Class Counsel and Defendant’s Counsel conducted an adversarial informal discovery process. Class Counsel reviewed and analyzed thousands of pages of documents provided by Defendant and also reviewed many other documents, including U.S. Department of Labor Forms 5500 and other publicly available documents. The Parties participated in mediation before a nationally recognized mediator who has extensive experience in resolving similar claims involving other 401(k) plans. Only after six months of extensive arm’s length negotiation following the mediation were the parties able to agree to the terms of the Settlement. As part of the Settlement, a Qualified Settlement Fund of $17,000,000 will be established to resolve the Class Action. The Net Settlement Amount is $17,000,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court. In addition to the monetary component of the Settlement, the Parties to the Settlement have agreed to certain additional terms: (1) During the first eighteen months (18) following the final approval of the Settlement, Defendant has agreed that the Plan’s fiduciaries will conduct a Request for Proposal (“RFP”) process for recordkeeping services to the Plan; (2) Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan’s money market fund investment option; (3) Defendant also will use an independent consultant familiar with fixed income investment options in defined contribution plans who will review the investment lineup and make recommendations to the Plan’s fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund; (4) In addition, during the three- year Settlement period, Defendant has agreed to provide Class Counsel a list of the Plan’s investment options and fees; and (5) In considering investment options for the Plan, Defendant has agreed that the Plan’s fiduciaries will consider: (a) the lowest-cost share class available for any particular mutual fund cons...
The Settlement. Following mediation with a neutral party, a Settlement has been reached. As part of the Settlement, a Qualified Settlement Fund of $39,500,000 will be established to resolve the Class Action. The Net Settlement Amount is $39,500,000 minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Class Representative Compensation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.
The Settlement. The Settlement was reached on April 5, 2019p. Class Counsel filed this action on December 29, 2015. Since the filing of this action and for a period of three years, the Parties engaged in substantial litigation. The Parties participated in mediation before a nationally recognized mediator who has extensive experience in resolving similar claims involving other 401(k) plans. Only after extensive arm’s length negotiation following the mediation were the parties able to agree to the terms of the Settlement. As part of the Settlement, a Qualified Settlement Fund with a Gross Settlement Amount of $23,650,000 will be established. The Net Settlement Amount is $23,650,000 minus Attorneys’ Fees and Costs paid to Class Counsel; all Class Representatives’ Compensation and Individual Plaintiff Compensation as authorized by the Court; all Administrative Expenses; and a contingency reserve not to exceed an amount to be mutually agreed upon by the Settling Parties that is set aside by the Settlement Administrator for: Administrative Expenses incurred before the Settlement Effective Date but not yet paid, Administrative Expenses estimated to be incurred after the Settlement Effective Date but before the end of the Settlement Period, and an amount estimated for adjustments of data or calculation errors. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.
The Settlement. System Administrator shall be responsible for the installation and maintenance of central collector stations.
The Settlement. 3.1 Subject to and in accordance with the terms and conditions set out in this Agreement, the Lender agrees to subscribe for 238,908,000 Settlement Shares at the Settlement Price and the Company agrees to allot and issue 238,908,000 Settlement Shares to the Lender in the full and final settlement of all the Settlement Amount, subject to the provisions of the Memorandum and the Articles on Completion.
The Settlement. System Administrator shall collect or procure the collection of all such data referred to in Clause 60.6.1 as is available from Outstations either by means of remote interrogation or by means of manual on-site interrogation.
The Settlement. System Administrator shall not enter on the Register a Registrant in respect of which evidence of consent of the Equipment Owner has not been provided in accordance with the relevant Agreed Procedure.
The Settlement. As part of the Settlement, a fund of $75,000,000 (the “Settlement Amount”) has been established to resolve the Action. From that $75,000,000 will first be paid any administrative expenses, taxes, tax expenses, Court-approved attorneys’ fees and costs, Class Representative service awards, and other approved expenses of the litigation. Then, the remaining Settlement Amount (called the “Net Settlement Amount”) will be allocated to Class Members according to the Plan of Allocation to be approved by the Court. Shortly after the Court preliminarily approved the Settlement, JPMorgan deposited the $75,000,000 Settlement Amount in an interest- bearing Qualified Settlement Fund. Upon final approval of the Settlement by the Court, the interest accrued on the Settlement Fund will be added to the Settlement Amount in order to benefit the Class. The Settlement provides, among other things, for the allocation of monies directly into the individual accounts of Class Members who had an account with a positive balance (an 1 Attachment 1 lists the plans which, according to information available at the time of the Settlement, offered a JPMorgan stable value fund during the class period. The plans identified on Attachment 1 may change based on the subsequent investigation of the parties. “Active Account”) in one of the 401(k) plans that are listed in Attachment 1 as of the most current participant data received by Class Counsel (“Current Participants”). Class members who are entitled to a distribution but who no longer have an “Active Account” in one of the Plans listed in Attachment 1 (“Former Participants”) will receive their allocation by check mailed to their last known address or by rollover if available and elected. Our records indicate that you are a Current Participant. You do not have to do anything to participate in the Settlement or to receive a payment from the Settlement if it is determined that you are entitled to one under the Plan of Allocation.
The Settlement. 6. The parties wish to settle and resolve all of Plaintiff’s claims to avoid the uncertainties and risks of trial, to avoid further expense, inconvenience, and the distraction of burdensome and protracted litigation, and to obtain the releases, orders, and judgments contemplated by the Settlement Agreement dated October 28, 2014 so as to put to rest totally and finally the matters raised by Plaintiff.
The Settlement. A. The Settlement Amount consists of the following:
