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Teva Pharmaceuticals Retirement Plan Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

This settlement resolves a class action against Teva Pharmaceuticals USA, Inc., its board of directors, and the investment committee of its retirement plan. The complaint alleged that these parties breached their fiduciary duties to the Teva Pharmaceuticals Retirement Savings Plan, by not keeping plan expenses down and not properly choosing and monitoring its investment options.

Docket Number:

2:19-cv-05738

Company: Teva Pharmaceuticals USA, Inc.

Filing Deadline: January 1, 2100

Class Period: December 6, 2013 to June 28, 2019

Objection Deadline: April 12, 2021

Final Approval Hearing: May 3, 2021

Proof of Purchase:

You do not have to submit a claim form.

Eligibility:

You may be eligible if you participated in the Teva Pharmaceuticals Retirement Savings Plan between December 6, 2013 and June 28, 2019, including the beneficiaries of deceased participants and alternate payees of persons subject to a Qualified Domestic Relations Order during the class period.

Typical Settlement Amount:

Those who have active accounts will have their Entitlement Amounts paid into their plan accounts. Former participants will receive a check.

Total Settlement Amount: $2,550,000

Class Representative Proposed Incentive Fee:

$15,000

Law Firm:
Capozzi Adler PC

Case Name: Pinnell, et al, v. Teva Pharmaceuticals USA, Inc., et al.

Settlement Website: Teva Pharmaceuticals Retirement Plan Settlement Website

Claims Administrator:
JND Legal Administration

Claims Administrator Contact Information:

Teva ERISA Settlement
c/o JND Legal Administration
PO Box 91343
Seattle, WA 98111
info@TevaERISASettlement.com
1-833-961-3341

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