If you were a participant in the LinkedIn Corporation 401(k) Profit Sharing Plan and Trust between August 14, 2014, and July 1, 2020, you could be entitled to a share of a class action settlement. This settlement aims to resolve allegations of ERISA violations in the plan's administration. The defendants have denied any wrongdoing, but the settlement provides compensation to affected class members without further litigation.
Who Benefits?: Participants, Former Participants, Beneficiaries, or Alternate Payees of the LinkedIn Corporation 401(k) Profit Sharing Plan and Trust during the specified period.
How much can I get?: A total settlement fund of $6,750,000.00 has been established, from which eligible class members can claim compensation after deductions for various fees and costs.
The settlement defines Class Members as those who were Participants, Former Participants, Beneficiaries, or Alternate Payees in the LinkedIn Plan at any point during the Class Period. The lawsuit's outcome affects these individuals due to the alleged ERISA violations.
Class Members are categorized as follows:
There are no exclusions specified for Class Members. All individuals who meet the above criteria are eligible to participate in the settlement.
The settlement fund will be allocated after deductions for attorneys' fees, expenses, and other costs. The remaining Net Settlement Amount will be distributed among Class Members.
At the center of this settlement is the LinkedIn Corporation 401(k) Profit Sharing Plan and Trust. The lawsuit alleged ERISA violations in the plan's administration, which the settlement seeks to rectify.
Proof is not required for Current Participants with an Active Account in the Microsoft Plan. However, Former Participants without an Active Account must submit a claim to receive their award.
To claim your award, follow these steps:
The $6,750,000.00 settlement amount will be distributed after deducting attorneys' fees, expenses, and other costs. The Plan of Allocation will ensure a fair and equitable distribution of the Net Settlement Amount among Class Members.
The settlement resolves a lawsuit alleging ERISA violations in the administration of the LinkedIn Plan. The defendants deny any wrongdoing, but the settlement allows for compensation to Class Members without further litigation. The Court has not found any wrongdoing by the defendants.
Remember, the Fairness Hearing is now set for December 13, 2023, and the deadline to file a claim is November 10, 2023. If you believe you are eligible, review the settlement details carefully and take the necessary steps to claim your award.