Pioneer Natural Resources USA 401(k) Settlement

Settlement Structure: Claims Made

Active: Closed

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:

Pioneer Natural Resources USA, Inc. and other parties responsible for the company’s 401(k) plan have agreed to a settlement that claims they have violated the Employee Retirement Income Security Act (ERISA). The complaint alleged that the company and other defendants acted improperly, in a way that caused plan participants to pay excessive fees for recordkeeping services.

Docket Number:

1:17-cv-01579-WJM-NYW

Company: Pioneer Natural Resources USA Inc.

Filing Deadline: July 10, 2019

Class Period: June 28, 2011 to December 10, 2018

Objection Deadline: July 10, 2019

Final Approval Hearing: August 7, 2019

Proof of Purchase:

If you are a current participant, you do not have to submit a claim form. Former participants must submit a claim form. Contact the claim administrator if you are a former participant and did not receive one.

Eligibility:

You may be eligible if you were a participant in the Pioneer Natural Resources USA Inc. 401(k) and Matching Plan and maintained a balance of any amount at any time between June 28, 2011 and December 10, 2018. Current participants do not need to submit a claim form, but former participants do.

Typical Settlement Amount:

Varies according to participation in the plan and decided by a formula agreed to at settlement. Participants whose awards are less than $10 will receive $10. For more information see the Plan of Allocation following the Notice at http://www.barrett401ksettlement.com/documents/11.%20Plan%20of%20Allocation.pdf.

Total Settlement Amount: $500,000

Class Representative Proposed Incentive Fee:

$1,500-$4,000

Law Firm:
Franklin D Azar and Associates PC

Case Name: Barrett et al. v. Pioneer Natural Resources USA, Inc.

Settlement Website: Pioneer Natural Resources USA 401(k) Settlement Website

Claims Administrator:
Angeion Group

Claims Administrator Contact Information:

Pioneer Natural Resources USA Inc. 401(k) and Matching Plan Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
(303) 757-3300

Tags: ERISA Violations, Employment Violations, Excessive Fees