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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
A $75 million settlement has been reached to resolve claims that JPMorgan mismanaged employee 401(k) investments.
The settlement will benefit all current and former participants or beneficiaries of ERISA plans who were invested in any JPM Stable Value Fund which in turn invested in the JPM Intermediate Bond Fund and/or the Intermediate Public Bond Fund between Jan. 1, 2009 and Dec. 31, 2010.
There are also three subclasses for the settlement, detailed in the “Who’s Eligible” section below.
The class action lawsuit against JPMorgan argued that the company mismanaged employee retirement plans in violation of the Employee Retirement Income Security Act (ERISA).
The company reportedly invested its stable value funds into two of its other funds: the Intermediate Bond Fund and the Intermediate Public Bond Fund.
These two JPMorgan funds allegedly invested into “risky, highly leveraged assets” including those related to mortgages.
Plaintiffs claim that this was a mismanagement of funds because their retirement assets would have performed better if their funds had been managed correctly and had invested in more reliable assets.
JPMorgan denies any wrongdoing but has agreed to settle the class action lawsuit in order to avoid the costs and risks of continuing litigation through a trial verdict.
Current participants will have allocations made directly to their 401(k) plans. Former participants will be able to receive their allocations in the form of a check. The payment amount will depend on individual amounts invested into a plan.
In order to receive payment, former participants need to file their valid Claim Forms by July 9, 2019. Current participants are not required to submit a Claim Form and will receive payment by doing nothing.
The deadline for exclusion and objection is July 9, 2019. The final approval hearing is scheduled for Sept. 6, 2019.
Who’s Eligible
All current and former participants or beneficiaries of ERISA plans who were invested in any JPM Stable Value Fund which in turn invested in the JPM Intermediate Bond Fund and/or the Intermediate Public Bond Fund between Jan. 1, 2009 and Dec. 31, 2010.
There are three subclasses for the settlement:
- SAIF Subclass: All Class Members who were invested in the JPM Stable Asset Income Fund (SAIF) between Jan. 1, 2009 and Dec. 31, 2010.
- ACSAF/JPMorgan Stable Value Fund Subclass: All Class Members who were invested into the American Century Stable Asset Fund (ACSAF) immediately before JPMorgan took over the fund and received its assets in the ACSAF/JPM Stable Value Fund from Sept. 17, 2007 to Dec. 31, 2010.
- Caterpillar Subclass: All Class Members who were invested into JPMorgan’s Caterpillar Stable Principal Fund or any other JPM Stable Value Fund that invested in the Intermediate Bond Fund and/or the Intermediate Public Bond Fund between Jan. 1, 2009 and Dec. 31, 2010.
If members of the Class or subclass had their investments perform poorly based on the Hueler Index, Lehman/Barclays Intermediate Aggregate Index, or another objective benchmark, they may be able to file a claim and recover compensation.
Potential Award
Varies. Each Class Member’s payment amount will depend on individual plan investments and outcomes.
Proof of Purchase
Only potential participants need to submit a proof of eligibility claim form in order to participate in the settlement.
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
7/9/2019
Case Name
In re: J.P. Morgan Stable Value Fund ERISA Litigation, Case No. 1:12-cv-02548-VSB, in the U.S. District Court for the Southern District of New York
Final Hearing
9/6/2019
UPDATE: The JPMorgan 401(k) Retirement Savings Plan Class Action Settlement was granted final approval by the court on September 23, 2019. Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
Settlement Website
Claims Administrator
JPM Stable Value Fund Litigation
c/o JND Class Action Administration
P.O. Box 91324
Seattle, WA 98111-9424
info@JPMSVFClassAction.com
1-844-877-5911
Class Counsel
Michael M. Mulder
Elena Liveris
LAW OFFICES OF MICHAEL M. MULDER
Todd Schneider
Garrett W. Wotkyns
Jason Kim
SCHNEIDER WALLACE COTTRELL KONECKY WOTKYNS LLP
Kevin Madonna
KENNEDY & MADONNA LLP
Joseph Peiffer
Daniel Carr
PEIFFER ROSCA WOLF ABDULLAH CARR & KANE APLC
Peter Mougey
Laura Dunning
LEVIN PAPANTONIO THOMAS MITCHELL RAFFERTY & PROCTOR PA
Defense Counsel
Jeremy Blumenfeld
MORGAN LEWIS & BOCKIUS LLP
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265 thoughts onJPMorgan 401(k) Retirement Savings Plan Class Action Settlement
They reached out to me and had me fill the paperwork and I received nothing!
I received my check but have not received a 1099-R form for reporting. Can you help?
Did anyone else receive a e mail saying something has changed
Something had changed like what?
My Friend gave me the number to call them, but still no reply.
i received the form from them about a year ago I was a prevous participant i sent it back still no check what gives?
I have not received any check. Please advise.
WHO FILED THIS LAWSUIT IN THE FIRST PLACE ????
So far the biggest payout i,ve seen is 148. 00 and some change , and some for a few dollars and cents. THOSE attorneys representing this lawsuit got over the claimants ,,,BIGTIME and driving NEW cars and living in NEW houses and laughing about this ALL THE WAY TO THE POOR ASS PEOPLE LIKE ME WHO TRUSTED THE COMPANIES WHO TIED OUR RETIREMENT MONEY WITH JPMORGAN AS THE INVESTOR, WELL I HOPE IT WAS WORTH IT.