Coriant 401(k) Plan Breach of Fiduciary Duty Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

This settlement resolves a class action against Infinera Optical Networks, Inc., formerly known as Coriant Operations, Inc., on behalf of the Coriant 401(k) Plan. The complaint alleged that the company breached its fiduciary duties to the participants in the plan and engaged in prohibited transactions, in violation of the Employee Retirement Income Security Act (ERISA), with respect to the decision to terminate the plan and liquidate the Gibraltar Guaranteed Fund (GGF).

Docket Number:

1:20-cv-00561 (CPK)

Company: Infinera Optical Networks, Inc.

Filing Deadline: January 1, 2100

Class Period: October 15, 2018

Objection Deadline: February 5, 2023

Final Approval Hearing: February 23, 2023

Proof of Purchase:

You do not have to provide proof.


You may be eligible if you are a participant in the plan who experienced a loss due to liquidation at market value of their GGF investments, any beneficiary of a deceased person who was such a participant in the plan, and any alternate payee in the case of a participant in the plan and whose account in the plan was subject to a qualified domestic relations order (QDRO).

Typical Settlement Amount:

If you are a class member who is entitled to a share of the net settlement fund, a check will be sent to your last known mailing address. The net settlement fund will be distributed according to a Plan of Allocation, in proportion to class members’ individual net losses.

Total Settlement Amount: $1,000,000

Class Representative Proposed Incentive Fee:

Up to $5,000

Law Firms:
McCarthy, Lebit, Crystal & Liffman Co., LPA
Rosca Scarlato, LLC

Case Name: McCutchan v. Coriant Operations, Inc., et al.

Settlement Website: Strategic Claims Coriant 401(k) Settlement Website

Claims Administrator:
Strategic Claims Services

Claims Administrator Contact Information:

Strategic Claims Services
600 North Jackson Street, Suite 205
Media, PA 19063

Tags: 401(k) Plans, Breach of Fiduciary Duty, ERISA Violations, Prohibited Transactions, Retirement Plans