5. $22 million – Ford, et al. v. Takeda Pharmaceuticals USA, Inc., Case No. 21-CV-10090 (D. Mass. Mar. 24, 2023) (final settlement approval granted in a class action alleging that the company and directors breached their fiduciary duties with respect to the 401(k) plan in violation of the ERISA). 6. $20.6 million – Asner, et al. v. SAG-AFTRA Health Fund, Case No. 20-CV-10914 (C.D. Cal. Oct. 19, 2023) (final settlement approval granted in a class action alleging claims that plan administrators breached their fiduciary duty under the ERISA and unfairly burdened older plan participants). 7. $15 million – Garthwait, et al. v. Eversource Energy Service Co. , Case No. 20-CV-902 (D. Conn. Sept. 26, 2023) (final settlement approval granted for a class action alleging that the company mismanaged its employees' 401(k) plan by charging high costs and securing poorly performing investments). 8. $14.8 million – Smith, et al. v. GreatBanc Trust Co ., Case No. 20-CV-2350 (N.D. Ill. Aug. 23, 2023) (final settlement approval granted for a class action alleging that the company overcharged participants for ESOP stock shares). 9. $13 million – Munro, et al. v. University Of Southern California , Case No. 16-CV-6191 (C.D. Cal. Aug. 25, 2023) (final settlement approval granted in a class action alleging that the university violated the ERISA by mismanaging a § 403(b) defined contribution retirement plan as well as a tax- deferred annuity plan). 10. $12.5 million – Boley, et al. v. Universal Health Services, Inc ., Case No. 20-CV-2644 (E.D. Penn. Feb. 15, 2023) (final settlement approval granted in a class action alleging breach of fiduciary duty, failure to monitor fiduciaries and co-fiduciary breaches and liability for knowing breach of trust in violation of the ERISA).
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© Duane Morris LLP 2024
Duane Morris ERISA Class Action Review – 2024
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