New Mexico 529 College Savings Plans Class Action

Case Status

Both cases settled for a total of $3.83 million and the New Mexico District Court granted final approval to the settlements in August 2015. The Settlement Administrator completed the distribution of the settlement funds in December 2015.

Case Overview

Keller Rohrback L.L.P. and Rothstein, Donatelli, Hughes, Dahlstrom, Schoenberg & Bienvenu, LLP are Counsel for the Certified Class in a class action lawsuit against the Education Trust Board of New Mexico and the Education Plan Trust of New Mexico (collectively, the “State”) for breach of contract involving its 529 college savings plans, known as the “Education Plan” and the “Scholars’ Edge Plan” (collectively, the “529 Plans”). The Complaint was filed in Santa Fe County First Judicial District Court. A related Complaint was filed against OppenheimerFunds.

Practice Areas

Securities
Financial Products & Services Litigation