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Participants in or beneficiaries of the Knight-Swift Transportation Holdings Inc. retirement plan at any time between Oct. 26, 2016, and Nov. 26, 2025, may be eligible to claim a cash payment from a class action settlement.
Knight-Swift Transportation Holdings Inc. agreed to pay $3 million to resolve a class action lawsuit alleging violations of the Employee Retirement Income Security Act. The lawsuit claimed the company breached its fiduciary duties by allowing excessive administrative fees, selecting and retaining high-cost or imprudent investment options and misusing plan forfeiture funds.
Who are the class members?
The class includes all participants in or beneficiaries of the Knight-Swift Transportation Holdings Inc. retirement plan at any time from Oct. 26, 2016, through Nov 26, 2025. This includes both current and former plan participants.
The settlement administrator will use plan records to identify class members.
How much can class members get?
After deductions for attorneys’ fees, administrative expenses and other costs, the settlement administrator will distribute the net settlement fund pro rata among eligible class members. The exact amount each person will receive depends on their average account balance in the plan during the class period.
The settlement administrator will calculate an average account balance for each class member based on their annual-ending balances from 2016 through 2025. It will then determine each class member’s share by dividing their average account balance by the sum of all class members’ average account balances, then multiplying that percentage by the net settlement fund. If a calculated payment is less than $10, that class member will not receive a payment.
No action needed to receive payment
Class members do not need to file a claim to receive their share of the settlement. The settlement administrator will automatically calculate and distribute payments according to the plan of allocation.
Class members who changed their address or need to update their information should notify the settlement administrator to ensure they receive any correspondence or payment. For name changes due to marriage, divorce or court order, class members must provide supporting documentation, such as a marriage license or court order.
Settlement administrator’s contact information: Hagins v Knight-Swift, c/o Settlement Administrator, PO Box 23668, Jacksonville, FL 32241, 800-620-5873, info@Knight-SwiftERISASettlement.com
Payout options
- Current participants with an active account will receive their share credited directly to their plan account.
- Former participants or beneficiaries without an active account will receive a check at their last known address.
$3 million settlement fund breakdown
The$3,000,000 settlement fund covers:
- Settlement administration costs: Up to $100,000
- Attorneys’ fees: Up to $100,000
- Attorneys’ expenses: To be determined
- Service awards to class representatives: Up to $10,000 each for the two named plaintiffs ($20,000 maximum)
- Independent fiduciary fees: Up to $50,000
- Payments to eligible class members: Remaining funds
Important dates
- Final fairness hearing: April 1, 2026
When is the Hagins v. Knight-Swift Transportation Holdings Inc. payout date?
The settlement administrator will distribute payments to class members after the court resolves any appeals and grants final approval of the settlement.
Why is there a class action settlement?
The class action lawsuit alleged Knight-Swift Transportation Holdings Inc. breached its fiduciary duties under ERISA by allowing excessive administrative fees, selecting and retaining high-cost investment options and misusing plan forfeiture funds.
The company denies all allegations but agreed to settle to avoid the cost, risk and disruption of continued litigation.
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