Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
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
ATTORNEY ADVERTISING
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2024 Top Class Actions® LLC
Various Trademarks held by their respective owners
This website is not intended for viewing or usage by European Union citizens.
Honda, Hyundai, Kia, Subaru vehicle data collection class action lawsuit investigation
May 17, 2024 | Legal News
265 thoughts onJPMorgan 401(k) Retirement Savings Plan Class Action Settlement
Kevin, i,m with you on this. If JPM put this settlement in an interest bearing account called a QUALIFIED SETTLEMENT account the final settlement amount should have been MORE than the 75,000.000.00 . I,m with you on having a lawyer look into this, MAYBE having the Justice Department look into it. Something is DEFINATELY wrong in this .
Who else agrees another law firm should look into this settlement ??? I am on board with this. Look into JPM also,
Frankly,I tried to be respectful to the involved lawyers in this case,feeling that they knew more facts than I/we did but my gut instinct tells me there may have been so kind of foul play involved.I too am considering having a lawyer look into this!!!
Tell you what ,Lawyers got 25,000.000.00 out of a 75,000.000.00 settlement that was put into a QUALIFIED SETTLEMENT account drawing interest, which means the FINAL settlement amount should have been MORE than 75,000.000.00. The claimants not only have been ROBBED by thier employers, but have been ROBBED by JPM , and by the LAWYERS who handled this lawsuit. They didnt loose a DAMN dime, but made a fortune from handling the suit and are deciding WHO should get a payment and who doesnt from whats left. We were not responsible for who our employers let handle our retirement benefit , we just put into it. I was told by one of the attorneys on the case I would not be getting anything because it wouldnt be enough to send to me, and YES ,i am VERY angry for them making that decision , they GOT their payout BIGTIME before anyone else did. How many of you didnt get a payment either ? Sooo SPEAK UP ! Dont know about you, but i,m not DONE with this yet. We were screwed ,NO grease. Well,,, thats how i feel ,What about you?
I do agree with every word u said think anyone whom invested got screw.Why attorneys got paid Do much n before we got anything…Some not get a dime.
Harriston I haven’t received a payment either and I filled out my class action lawsuit forms and did I one online…..So you’re saying people have received a payout payment?? Because I haven’t heard that anyone has.? They haven’t posted a payout date either?
I think we should have a another law firm look into this bull$!it
The letter said JPM put the initial settlement amount into an interest bearing account before it was FINALIZED this past SEP, So, the total settlement was supposed to be MORE than the 75,000.000.00. We need to find out how much interest was gained in this account. Either the Law firm or JPM or BOTH have ripped the claimants off .
Who else feels CHEATED by the law firm and JPM ? You were NOT responsible for how your employer handled your retirement money OR who they chose to handle it. SPEAK UP . There may be something that can be done.
I do
Absolutely feel scammed. Again, I read online the average class action suit settlement received…. overall, is under $15. Makes you wonder if these lawsuits should be legal….if only the law firm benefits.
Now thatis bull. So the law firm also screwed us with our pants still on!
It was worth far more than $15 for my time to fill those out!
The rich get richer!
I also feel cheated!
75,000.000.00 put into an interest bearing account by JPM, so the final settlement should have been MORE , the law firm collects 25,000.000.00 OFF THE TOP and the rest of the settlement is divided between the claimants who are eliminated somehow, and get nothing. This law firm made a fortune from a lawsuit it had NOTHING vested in but collected a HUGE payday from people who worked for companies that SPONSORED the JPM financial plan. I was employeed with 2 of those companies who used JPM and they BOTH went out of business . Now,,, you ask yourself , dont you feel CHEATED All over again??? I do .
Yes I do feel cheated the lawyers got a huge payout and we got nothing. I am not understanding why they got such a huge payout. It is not fair to us our money was invested not theirs n for the tiny payout they told me I would receive for twenty years is a slap in the face all I can say is we have been scammed
If you are interested in finding out if you will receive anything call this number,, 1 415 421 7100 or 312 263 0272 . The website has not even been operating so dont call them.
I called and they never called back.
I will not be getting anything from the settlement i have just been informed by the ACTUAL law firm ,but it is NOT over .
I would assume my situation is same. Nothing? What do you mean “not over”? If JPM really took our allocated investments and instead benefited themselves that is fraud. Wow.
Another question,,,, how much interest was earned in the interest bearing account ???