.png)
Employees who participated in the Nvidia Corp. 401(k) plan at any time between Aug. 28, 2014, and Sept. 9, 2025, may be eligible to claim a portion of a class action settlement.
Nvidia Corp. agreed to pay $2.5 million to resolve a class action lawsuit alleging it and other related parties mismanaged the company's 401(k) retirement plan. The lawsuit claimed Nvidia and its board failed to properly select and monitor investment options and allowed the plan to pay excessive recordkeeping and administrative fees.
Who are the class members?
Class members include anyone who was a participant in or beneficiary of the Nvidia Corp. 401(k) plan at any time from Aug. 28, 2014, through Sept. 9, 2025. This includes both current and former participants.
The settlement administrator will determine eligibility based on the plan’s records. Those who received a notice about the settlement are likely class members.
How much can class members receive?
Pro rata payment: The total settlement fund is $2.5 million. After deducting court-approved expenses, including attorneys’ fees, administrative costs, taxes and service awards to class representatives, the settlement administrator will distribute the remaining amount to eligible class members.
The settlement administrator will calculate the amount each class member receives using their account balance and investment activity during the class period. The settlement uses a pro rata formula, meaning each eligible participant receives a portion of the net settlement amount proportional to their calculated losses relative to the total losses for all class members.
The process works as follows:
- The settlement administrator calculates each class member’s losses based on their plan account activity during the class period.
- The settlement administrator determines each class member's percentage of total plan losses.
- The settlement administrator applies this percentage to the net settlement amount to determine the individual award.
Former plan participants will not receive a payment if their calculated share is less than $5. Current participants are not subject to this minimum.
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 use plan records to identify eligible participants and calculate their awards.
Class members can contact the settlement administrator with questions.
Settlement administrator's contact information: Nvidia ERISA Settlement, P.O. Box 2009, Chanhassen, MN 55317-2009, NVIDIAERISA@noticeadministrator.com, 888-776-3713
Payout options
- Current participants will receive their payment deposited into their 401(k) plan account.
- Former participants will receive a paper check to their last known address provided the amount is at least $5.
$2.5 million settlement fund breakdown
The $2,500,000 settlement fund includes:
- Settlement administration costs: To be determined
- Attorneys' fees: Estimated between $625,000 and $833,333
- Attorneys' expenses: To be determined
- Service awards to class representatives: Up to $10,000 each
- Payments to eligible class members: The remaining settlement fund
Important dates
- Final approval hearing: Dec. 18, 2025
When is the Nvidia ERISA settlement payout date?
The settlement administrator will issue payments after it resolves appeals and the court grants final approval of the settlement.
Why is there a class action settlement?
The class action lawsuit alleged Nvidia and related parties violated the Employee Retirement Income Security Act by failing to properly manage the plan.
Nvidia denies all allegations but agreed to settle to avoid the cost and risk of further litigation.
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.svg)
Comments