Frequently Asked Questions

 

The following are “Frequently Asked Questions” about the settlement.

If you do not find an answer to your question here:

  • Documents such as the Complaint and Settlement Agreement can be found by clicking here
  • You can write the Settlement Administrator at the address listed here
What is this lawsuit about?

In the Class Action, the Class Representatives claim that Defendants failed to prudently control Plan costs and failed prudently to manage the Plan’s investments in the best interests of Plan participants and beneficiaries, and thereby breached fiduciary duties to the Plan and its participants and beneficiaries under Subchapter I, Subtitle B, Part 4 of ERISA. Defendants have denied and continue to deny the claims and contentions of the Class Representatives. Defendants also deny that they are liable at all to the Class, and deny that the Class or the Plan have suffered any harm or damage for which Defendants could or should be held responsible.

The Notice you received summarizes the proposed Settlement. For the precise terms and conditions of the Settlement, review the Settlement Agreement and other court documents, available here.

How much money will I get?

The amount, if any, that will be allocated to you will be based upon records maintained by the Plans’ recordkeepers. To receive a distribution from the Net Settlement Amount, you must either be a (1) “Current Participant” (2) an “Authorized Former Participant” who submitted a completed, satisfactory Former Participant Claim Form by the deadline.

The Net Settlement Amount will be divided pro rata among eligible Class Members based on each eligible Class Member’s quarterly account balances during the Class Period. Account balances from the beginning of the Class Period through the third quarter of 2016 will be weighted at a rate of 10 times the dollar amount invested, and account balances from the fourth quarter of 2016 until the end of the Class Period will be weighted at a rate of 1 times the dollar amount invested. There are approximately 22,705 Class Members. Note that if you are an Alternate Payee pursuant to a Qualified Domestic Relations Order, your portion of the Settlement will be distributed pursuant to the terms of that order. If the dollar amount of a settlement payment to an authorized former participant is calculated to be $5 or less, then that authorized former participant will not be issued a settlement payment.

What do I need to do?

Whether you need to submit a claim form to receive your distribution depends on whether you are considered a “Current Participant” or a “Former Participant.”

If the notice you received describes you as a Current Participant, you do not need to anything to receive your share of the Settlement.

If the notice you received describes you as a Former Participant, you will need to fill out the Claim Form that was mailed to you and mail it back by April 13, 2018.

When will I receive my money?

The timing of the distribution of the Net Settlement Amount is conditioned on several matters, including the Court’s final approval of the Settlement and that approval becoming final and no longer subject to any appeals in any court. An appeal of the final approval may take several years. If the Settlement is approved by the Court, and there are no appeals, the Settlement distribution likely will occur within six months of the Court’s Final Approval Order. There will be no payments under the Settlement if the Settlement Agreement is terminated.

This website will be updated with status as available.

Do I have a lawyer in this case?

Yes, class members are represented by Nichols Kaster, PLLP. Their information is available here.

The lawyers will be paid from the settlement amount if approved, so you will not be charged personally for their work on the case. If you want to be represented by your own lawyer, you may hire one at your own expense.

When will Court decide if my payment is approved?

The Court will hold a Fairness Hearing at 1:00 p.m. on May 4, 2018. At this hearing the Court will consider whether the Proposed Settlement is fair, reasonable and adequate, and will also consider whether to approve the requested attorneys’ fees and costs, settlement administration expenses, and class representative’s compensation. If there are objections, the Court will consider them. After the Hearing, the Court will decide whether to approve the Proposed Settlement.

What if I have more questions?

You may call the Settlement Administrator toll-free at 866-997-1382. You may also email them at Info@Fujitsu401kSettlement.com and your inquiry will be responded to as quickly as possible.