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CDI Corporation 401(k) Retirement Plan Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

CDI Corporation is paying $1.8 million to settle a class action alleging that it breached its fiduciary duties under the Employee Retirement Income Security Act (ERISA) with respect to the CDI Corporation 401(k) Savings Plan. The complaint alleged that it breached the duties of loyalty, care, and prudence by failing to keep down plan expenses and selecting investment options that charged excessive fees.

Docket Number:

2:20-cv-3317-CFK

Company: CDI Corporation

Filing Deadline: January 1, 2100

Class Period: July 7, 2014 to June 7, 2020

Objection Deadline: October 25, 2021

Final Approval Hearing: November 22, 2021

Proof of Purchase:

You do not need to provide proof. Presumably plan records will be used to verify class membership.

Eligibility:

You may be eligible if you participated in the plan at any time between July 7, 2014 and July 7, 2020. Included as class members are any deceased person and any Alternate Payee of a person subject to a Qualified Domestic Relations Order who participated in the plan during that period.

Typical Settlement Amount:

Share of the net settlement fund, to be distributed according to a Plan of Allocation. Shares that amount to less than $10 will not be distributed. If you are a participant with a current account in the plan, your share will be deposited into your account. If you are a former participant, your share will be paid directly to you. For more information, see the Notice at https://angeion-public.s3.amazonaws.com/www.cdiERISAsettlement.com/docs/Notice+Crawford+v+CDI+-+Proof%232.pdf.

Total Settlement Amount: $1,800,000

Class Representative Proposed Incentive Fee:

$10,000

Law Firm:
Edelson Lechtzin LLP

Case Name:

Settlement Website: CDI Corporation 401(k) Retirement Plan Settlement Website

Claims Administrator:
Angeion Group

Claims Administrator Contact Information:

CDI ERISA Settlement
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
Info@cdiERISASettlement.com
844-601-1101

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