Settlement Structure: Claims Made
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.Case Summary:
Analog Devices, Inc. is settling a class action as the successor to Linear Technology Corporation, Linear Technology, LLC, and Linear Technology Administrative Committee, about the former Linear Technology 401(k) Plan. The complaint alleged the defendants violated the Employee Retirement Income Security Act (ERISA) and their own duties as plan fiduciaries, by not managing the plan prudently and paid higher than necessary recordkeeping fees.Docket Number:
Company: Analog Devices, Inc.
Filing Deadline: June 15, 2022
Class Period: May 6, 2013 to January 18, 2019
Objection Deadline: June 15, 2022
Final Approval Hearing: July 15, 2022Proof of Purchase:
If you are a current participant of The Investment Partnership Plan (TIP) at Analog Devices when the payments are distributed, you do not need to provide proof or submit a claim form. Your payment will be made to you automatically by direct deposit to your TIP plan account. If you are a former participant and you want to roll over your payment into another tax-qualified retirement account, you must submit a Rollover Form by June 15, 2022. If you are a former participant and do not fill out a rollover form, you will receive a check mailed to your last known address.Eligibility:
You may be eligible if you participated in the plan at any time (including if you are a beneficiary or Alternative Payee), between May 6, 2013 and January 18, 2019, the effective date of the merger with the TIP plan.Typical Settlement Amount:
Benefits will be based on plan records showing the amount your account paid in recordkeeping fees of over $50 per year during the class period, in proportion to the payments of others’ accounts.
Total Settlement Amount: $1,500,000Class Representative Proposed Incentive Fee:
Case Name: Bouvy v. Analog Devices, Inc., et al.
Settlement Website: Linear Technology Retirement Plan Settlement Website
Analytics Consulting, LLC
Linear Technology 401(k) Plan Settlement Administrator
P.O. Box 2003
Chanhassen, MN 55317-2003