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Brenntag Profit-Sharing Plan Breach of Fiduciary Duty ERISA Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

This settlement resolves a class action against Brenntag North America, Inc., its Board of Directors, and its Investment and Oversight Committee. The complaint alleged that these parties breached the fiduciary duties of loyalty, care, and prudence owed to the Brenntag USA Profit-Sharing Plan, because they did not try to reduce the plan’s expenses or properly monitor the investment options offered by the plan.

Docket Number:

5:20-cv-00147-JMG

Company: Brenntag North America, Inc.

Filing Deadline: January 1, 2100

Class Period: January 8, 2014 to April 8, 2021

Objection Deadline: July 9, 2021

Final Approval Hearing: August 9, 2021

Proof of Purchase:

Class members will be identified through plan records. You do not need to submit a claim form.

Eligibility:

You may be eligible if you are a person who participated in the plan at any time between January 8, 2014 and April 8, 2021. The class also includes beneficiaries of a deceased participant and alternate payees of participants subject to a qualified domestic relations order.

Typical Settlement Amount:

The net settlement amount will be distributed to class members through a plan of allocation. Allocations will be determined by comparing account balances for the period with the total amount of account balances. Those whose payment amounts to less than $100 will not receive a payment.

Total Settlement Amount: $2,300,000

Class Representative Proposed Incentive Fee:

$10,000

Law Firm:
Capozzi Adler PC

Case Name:

Settlement Website: Brenntag Profit-Sharing Plan Breach of Fiduciary Duty ERISA Settlement Website

Claims Administrator:
JND Legal Administration

Claims Administrator Contact Information:

Brenntag ERISA Settlement
c/o JND Legal Administration
P.O. Box 91348
Seattle, WA 98111
833-961-3968

Tags: Breach of Fiduciary Duty, ERISA Violations, Retirement Plan Mismanagement, Retirement Plans