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A glass jar full of money with a label that reads "retirement" - teva pharmaceuticals
(Photo credit: eskaylim/ DepositPhotos.com)

Teva Pharmaceuticals has agreed to a $2.55 million settlement to benefit participants in and beneficiaries of the company’s retirement savings plan.

The Class includes anyone who participated in the Teva Pharmaceuticals retirement savings plan at any time between Dec. 6, 2013, through June 28, 2019, including any beneficiary of a deceased person who participated in the plan at any time during that period, and any alternate payee of a person subject to a Qualified Domestic Relations Order who participated in the plan  at any point during the Class Period.

The minimum payment Class Member will receive is $10, according to the settlement notice.

Teva Pharmaceuticals was accused of violating the federal Employee Retirement Income Security Act (ERISA) by failing to attempt to negotiate fees and expenses charged against plan participants’ investments.


ERISA was enacted to protect employees paying into employer-sponsored retirement accounts, such as 401(k) plans, and safeguards some insurance and disability plans.

Teva Pharmaceuticals denies all claims of wrongdoing, but both parties have agreed to a settlement in order to avoid the expense and uncertainty of continuing litigation.

After the Court grants final approval, Class Members will receive a share of the fund that remains after fees and other expenses are paid. Each Class Member’s proportional share will be calculated based in part on their account balances during the Class Period

Anyone who is eligible to receive a payment will automatically receive a payment to their active account. Former participants will be paid via check from the settlement administrator.

Class Members are not required to submit documentation showing their Teva Pharmaceuticals retirement savings activity. 


As such, there is no claim form to file in order to participate in the Teva Pharmaceuticals settlement.

Former plan participants who have not provided the plan with their current address should contact Class Counsel:

Mark K. Gyandoh
Capozzi Adler PC
312 Old Lancaster Rd.
Merion Station, PA 19066

The deadline to object to the settlement is April 12, 2021.

A final approval hearing is scheduled for May 3, 2021.


Who’s Eligible

Anyone who participated in the Teva Pharmaceuticals retirement savings plan at any time between Dec. 6, 2013, through June 28, 2019, including any beneficiary of a deceased person who participated in the plan at any time during that period, and any alternate payee of a person subject to a Qualified Domestic Relations Order who participated in the plan  at any point during the Class Period.

Potential Award

$10 or more.

  • The minimum payment Class Member will receive is $10.
  • After the Court grants final approval, Class Members will receive a share of the fund that remains after fees and other expenses are paid. Each Class Member’s proportional share will be calculated based in part on their account balances during the Class Period.
Proof of Purchase

N/A

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

N/A

Case Name

Jerry Pinnell, et al. v. Teva Pharmaceuticals USA Inc., et al., Case No. 2:19-cv-05738-MAK in the U.S. District Court for the Eastern District of Pennsylvania

Final Hearing

05/03/2021

Settlement Website
Claims Administrator

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

Class Counsel

CAPOZZI ADLER PC

Defense Counsel

MORGAN, LEWIS & BOCKIUS LLP

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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.

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