Class Action Litigation Settlements on Behalf of 401k Plans

Submitted by IFS on Mon, 01/01/2007 - 21:31
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IFS completed its role as independent fiduciary on behalf of several 401k plans, deciding whether the plans should participate in settlements of class action litigation under the securities laws and ERISA arising out of the plans' holdings in stock of the plan sponsor. IFS reviewed and approved settlements in the following class actions:

 

  • Krispy Kreme ERISA class action
  • El Paso Corporation securities class action
  • Williams Companies Corporation securities class action
  • Nortel Corporation securities class actions

 

In the Nortel situation, IFS remains responsible for filing the plans' proofs of claim in the two settlements and directing the work of the plans' record keeper to assemble the transaction data supporting the claims.