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LinkedIn $6,750,000 Settlement: What You Need to Know

Eligible claimants in the LinkedIn 401(k) settlement are Participants, Former Participants, and their Beneficiaries with awards from a $6,750,000 fund.

LinkedIn $6,750,000 Settlement: What You Need to Know
Updated on
Published on

Settlement Terms

  • Status:
    Closed
  • Award:
    Varies
  • Is Proof Required?
    No
  • Claim Deadline:
    November 10, 2023
    Not Set
  • Days Left to File Claim:
    0
  • Settlement Amount:
    $6,750,000.00
  • Final Approval:
Settlement summaries by Claim Depot are written for people who might be eligible to claim class action settlement awards. Our goal is to provide the reader all relevant information about the settlement so they can claim their lawsuit funds. Claim Depot uses artificial intelligence (AI) to extract data from the vast amounts of text on the Official Settlement Website and in the court documents. Then, our writers, who are licensed attorneys, write the summary in plain English so the greater public can better understand their rights.

LinkedIn Corporation 401(k) Profit Sharing Plan and Trust Class Action Settlement Guide

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.

Important Dates

  • Fairness Hearing: Initially scheduled for November 16, 2023, the Fairness Hearing has been continued to December 13, 2023.
  • Deadline to File a Claim: Former Participants, or Beneficiaries or Alternate Payees of Former Participants who do not have an active account in the Microsoft Plan, must submit a claim by November 10, 2023.

Identifying Eligible Class Members

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:

  • Current Participants with an Active Account in the Microsoft Plan
  • Former Participants without an Active Account in the Microsoft Plan

There are no exclusions specified for Class Members. All individuals who meet the above criteria are eligible to participate in the settlement.

Claimable Awards for Class Members

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.

  • Active Account Holders: No action is required to claim the award; it will be automatically distributed into their Microsoft Plan account.
  • Former Participants without an Active Account: Must submit a claim to receive a payment, which can be made via check or tax-qualified rollover.

The Plan at the Heart of the Settlement

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.

Is Proof Required to Claim the Reward?

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.

How to Claim Your Award

To claim your award, follow these steps:

  1. If you are a Former Participant without an Active Account in the Microsoft Plan, fill out and submit the Former Participant Claim Form by the deadline.
  2. For Current Participants with an Active Account, no action is needed as the award will be automatically distributed.

Dissecting the Settlement Amount

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.

Why Is There a Class Action Settlement?

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.

Case Facts

  • Case Number:
    5:20-cv-05704
  • Filing Date:
  • Jurisdiction:
  • State:
  • Court:
  • Plaintiff:
  • Defendant:
    LinkedIn Corporation
  • Plaintiff Firm:
    Miller Shah LLP and Capozzi Adler, P.C.
  • Claims Admin:
    LinkedIn 401k Settlement Administrator 600 North Jackson Street, Suite 205 Media, PA 19063 (866) 274-4004 info@strategicclaims.net
  • Defendant Firm:
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Will Gendron
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