CDI Corp. Retirement Plan $1.8 Million Class Action Settlement

Consumers nationwide who participated in a CDI Corp. 401(k) savings plan may be eligible for a payment thanks to a recent $1.8 million class action settlement.

Settlement Class Members include all CDI Corp. 401(k) savings plan participants (or family members of participants) who held a balance between July 7, 2017, and July 7, 2020

According to the class action lawsuit, plaintiffs allege the defendants breached their duty of care toward their consumers by failing to take care when selecting and monitoring the CDI Corp. retirement plan. 

During the Class Period, the Plan reportedly had about $260 million in assets, so there was substantial bargaining power regarding the fees and expenses charged to Plaintiffs. Despite that, the defendants allegedly never attempted to reduce the plan’s expenses or fees. On top of that, the plaintiffs allege the defendants didn’t monitor record keeping fees and that their actions amounted to charging excessive fees.

The company denies any and all allegations made by the plaintiffs, does not admit to any wrongdoing, and claims it has numerous defensive arguments to prove it is not liable for the plaintiffs’ claims. 

The Court has not made a determination of guilt in this case. Rather, both the plaintiffs and the defendants have determined the proposed settlement agreement is in everyone’s best interests.

Eligible Class Member will receive a payment from the $1.8 million settlement fund. 

The exact amount of each Class Member’s share will vary depending on the number of months during the Class Period that their plan was active, and the average dollar balance maintained in the plan over the Class Period. 

If the Class Member’s calculated share is less than $10, then the claim will not be paid.

Class Members are not required to calculate how much they’re owed or provide records that prove plan activity. Instead, these calculations will be made by the settlement administrator.

Eligible Class Members are not required to file a claim to receive a payment. 

Those who received a notice about the CDI Corp. retirement plan settlement do not need to take action. Their share of the settlement fund will be deposited into their plan account pending the Court’s approval.

A final fairness hearing is scheduled to take place Nov. 22, 2021.

The deadline to object to the settlement has passed.

No claim form is required.

Who’s Eligible

Class Members include all CDI Corp. 401(k) savings plan participants (or family members of participants) who held a balance between July 7, 2017, and July 7, 2020

Potential Award

Varies

Proof of Purchase

No proof of purchase necessary.

Claim Form

No claim form is required.

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

No claim form is required

Case Name

Crawford, et al., v. CDI Corporation, et al, Case No. 2:20-cv-3317-CFK, in the U.S. District Court for the Eastern District of Pennsylvania

Final Hearing

11/22/2021

Settlement Website

CDIERISASettlement.com

Claims Administrator

CDI ERISA Settlement
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
[email protected]
844-601-1101

Class Counsel

Eric Lechtzin
EDELSON LECHTZIN LLP

Defense Counsel

Brian T. Ortelere
MORGAN LEWIS & BOCKIUS LLP