Dynegy Inc. 401k Savings Plan-Independent Fiduciary re: Securities Litigation

TIFS was engaged as Independent Fiduciary for the Dynegy Inc. 401(k) Savings Plan regarding settlement of a class action lawsuit alleging that certain Plan fiduciaries violated ERISA in connection with the Plan's holdings of securities issued by Dynegy Inc., the Plan's sponsor. The settlement provides for payments totaling $30.75 million by various insurers. After deducting various costs, the net proceeds are payable to the Plan. IFS was engaged to (i) decide whether the Plan should approve the settlement and grant releases on behalf of the Plan to the settling defendants, some of whom are parties in interest to the Plan, and (ii) determine whether the settlement complies with an applicable U.S. Department of Labor prohibited transaction class exemption. After reviewing the litigation and the proposed settlement with assistance of outside legal counsel, IFS determined that the Plan should grant the releases and that the settlement complies with the class exemption.