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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
I received a check from this fund for $148.86. Just want to verify before cashing that I was part of this settlement. Check #018465
Congratulations # 018465 some people got even LESS than that and people like ME wasted the money on a stamp and got NOTHING .
You think about it like this, Some lawyers have new MERCEDES , and living a luxury LIFE from this LAWSUIT. THEY HAD NOTHING VESTED IN THIS LAWSUIT AND GAINED A SHITLOAD OF MONEY FROM IT ,AND BASICALLY ,NO ONE BUT THEM GOT PAID.
Not true…got a sizable check yest… however I made great $$ during 2009-10 so ur payment is equitable with your investment..that’s fair
How much would you say is sizable just so I get some idea because I was fully invest that time to.
Really sad that my husband worked so hard in is life. He passed a little over 2 years ago, I’m struggling. Some money would have helped.
Has anyone else received a check
Whats the highest amount that someone has gotten ?
They said I was getting a check but nothing yet
I haven’t gotten anything and it looks like most people didn’t get anything either! The ones I read that got checks was very few and the highestwas around $7.00?
I was told I would be getting a check but have received nothing.
Checks has been sent out.If you didnt get anything then you wont .
Thank You , i was wondering the same thing ,i have not got anything yet !!
Has all the money been sent out ? Everyone has stopped posting . What a bummer!!!!!
Haven’t heard a word….so wouldn’t a follow up letter be nice to inform members why no payment?
what was the process USED to determine if you did or did NOT loose any thing? I am NOT done with this AT ALL.
Seems to me it was a way for some rich ass attorney’s to “file a class action lawsuit”, make a huge mountain of money for themselves and the people there supposed to be “helping” got screwed.
How many other people got ROBBED by this lawsuit OTHER than me?