THE TERMS OF THE SETTLEMENT. What claims are covered by the Settlement?
THE TERMS OF THE SETTLEMENT. To avoid the time and expense of further litigation, Plaintiff and Defendants have agreed to resolve the litigation. The Settlement is the product of extensive negotiations between the parties, who were assisted in their negotiations by a neutral private mediator. The parties have taken into account the uncertainty and risks of litigation and have concluded that it is desirable to settle on the terms and conditions set forth in the Settlement Agreement. If the Settlement is approved by the Court, the Settlement Class will obtain the benefits of the Settlement without the further delay and uncertainty of additional litigation. The Settlement resolves all issues regarding the Plan’s inclusion of Chesapeake Stock. The terms of the Settlement are set forth in the Class Action Settlement Agreement dated April 18, 2022 (the “Settlement Agreement”), which is available on the Settlement Website at xxxx://xxx.xxxxxxxxxxxxxxxxxxxxxx.xxx. Those terms are summarized below. This Notice is a summary, and in the event of any inconsistency, the Settlement Agreement controls. Nothing in the Settlement Agreement is an admission or concession on Defendants’ part of any fault or liability, nor is it an admission or concession on Plaintiff’s part that his claims lacked merit.
THE TERMS OF THE SETTLEMENT. To avoid the time and expense of a lawsuit, Plaintiffs and Defendants have agreed to a settlement that involves both monetary payments to Plan participants and changes in the investment options and fees of the Plan. These and other terms of the Settlement are set forth in the Class Action Settlement Agreement dated May 19, 2016 (“Settlement Agreement”), and described below.
THE TERMS OF THE SETTLEMENT. What is the settlement amount? Page 4 8. How much will my Individual Settlement Payment be? Page 4
THE TERMS OF THE SETTLEMENT. What is the settlement amount?
THE TERMS OF THE SETTLEMENT. Pursuant to the terms of the Settlement, and based on an analysis of Defendant’s timekeeping and payroll records, Defendant has agreed to pay you a gross amount of $ (“Settlement Payment”). If the Court approves the Parties’ settlement, a check for this amount will be mailed to you. Under the tax laws, your Settlement Payment constitutes earned wages. Thus, your payment will be issued in the form of a payroll check subject to all ordinary employee taxes and withholdings. YOU DO NOT NEED TO DO ANYTHING IN ORDER TO RECEIVE THIS SETTLEMENT PAYMENT. UNLESS YOU EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS, YOU WILL RECEIVE THE AMOUNT STATED ABOVE.
THE TERMS OF THE SETTLEMENT. This case has been pending since November 2017. To avoid prolonging the litigation further, Plaintiff and Defendants have agreed to a settlement. Plaintiff’s claims in the lawsuit involve the investment options in the Plans, which offered investments that Plaintiff alleges were imprudent and charged excessive fees. The Settlement covers the 403(b) Plan, the 401(a) Plan, and the 401(k) Plan and resolves all issues regarding the prudence and fees charged by the Plans from November 28, 2011 until the present time. Assuming the Settlement is approved by the Court, settling the case means that monetary relief will be distributed to the Settlement Class, and without the further delay and uncertainty of additional litigation. The terms of the Settlement are set forth in the Class Action Settlement Agreement, dated January 25, 2019 (“Settlement Agreement”), which is available at www. .com, and are summarized below.
