On October 7, 2020, the Court granted final approval to the settlement and entered judgment ending the litigation. The Settlement Administrator completed the distribution to the eligible Plan participants in December 2020. For more information about the settlement, please visit the Settlement Administrator website. Any inquiries about the settlement, must be directed to the Administrator.
Plaintiffs filed four individual actions on behalf of a class of all persons who were participants in or beneficiaries of the JPMorgan Chase 401(k) Savings Plan. Those cases were consolidated and proceeded as a single action in the United States District Court for the Southern District of New York.
Plaintiffs alleged that JPMorgan Chase Bank and related Defendants breached their fiduciary duties to the participants and beneficiaries of the JPMorgan Chase 401(k) Savings Plan in violation of the Employee Retirement Income Security Act (“ERISA”). On March 29, 2018, the Court denied the Defendants’ motion to dismiss and certified a class defined as:
All persons, except Defendants and any other persons with responsibility for the Plan’s investment menu, who were participants in or beneficiaries of the Plan, at any time between January 25, 2011 and the present (the “Class Period”), and whose individual accounts were invested in one or more of the following funds: the Growth and Income Fund; the Mid Cap Value Fund; the Mid Cap Growth Fund; the Small Cap Core Fund, but only if the investment occurred before December 19, 2015; the Core Bond Fund, but only if the investment occurred before March 12, 2016; and any of the Target Date Funds, but only if the investment occurred before April 1, 2016.
Please be advised, we cannot respond to any questions as to any individuals’ membership in the certified class.
