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This settlement is closed!
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Universal Health Services Inc. (UHS) has set aside $12.5 million as part of a settlement in a class action lawsuit that alleged the company violated the Employee Retirement Income Security Act (ERISA). Universal Health Services denies any wrongdoing but has agreed to the settlement to avoid the ongoing cost and risks associated with litigation.
The ERISA settlement class is made up of all current and former participants, beneficiaries or alternate payees of a plan participant or former plan participant at any time on or after June 5, 2014, through and including Oct. 31, 2022.
The lawsuit claims Universal Health Services failed to objectively and adequately review the retirement savings plan’s investment portfolio in terms of cost, maintained certain funds in the plan despite available and similar or identical options with lower cost and/or better performance and failed to consider lower-cost collective trusts that were available as alternatives.
The lawsuit claims the plaintiffs did not have all the available information to understand that the defendants “breached their fiduciary duties and engaged in other unlawful conduct in violation of ERISA until shortly before this suit was filed. … Moreover, having never managed a large 401(k) plan … plaintiffs lacked actual knowledge of reasonable fee levels and prudent alternatives available to such plans.”
Universal Health Services Inc. is a Pennsylvania-based company that describes itself, according to the lawsuit, as “one of the nation’s largest and most respected providers of hospital and healthcare services,” with 90,000 employees who work at 44 hospitals, behavioral health facilities and other centers in multiple countries. The plan’s assets ranged from $1.3 billion to $1.9 billion between 2014 and 2017.
Universal Health Services will set aside $12.5 million, a third of which will go toward attorneys’ fees and litigation expenses.
All class members are bound by the settlement agreement and may not opt out.
Class members can object to certain aspects of the UHS ERISA class action lawsuit settlement but cannot ask the court to order a different settlement. Objections must be postmarked no later than March 23, 2023.
The court will hold a fairness hearing and decide whether to approve the settlement March 30, 2023.
Class members do not need to submit a claim to be eligible for a payment if they are current participants in the retirement plan.
However, former participants and beneficiaries without an active account must submit a participant claim form by Feb. 28, 2023.
Who’s Eligible
Current and former participants, beneficiaries or alternate payees of a plan participant or former plan participant at any time on or after June 5, 2014, through and including Oct. 31, 2022
Potential Award
Varies
Proof of Purchase
No proof of purchase applicable
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
02/28/2023
Case Name
Boley, et al. v. Universal Health Services Inc., et al., Case No. 2:20-CV-02644-MAK, in the U.S. District Court for the Eastern District of Pennsylvania
Final Hearing
03/30/2023
Settlement Website
Claims Administrator
Strategic Claims Services
600 North Jackson Street, Suite 205
Media, PA 19063
info@strategicclaims.net
866-274-4004
Class Counsel
Laurie Rubinow
Alec J Berin
MILLER SHAH LLP
Defense Counsel
Brian T Ortelere
Deborah S Davidson
MORGAN LEWIS & BOCKIUS LLP
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3 thoughts onUniversal Health Services ERISA $12.5M class action settlement
How do we find out the results of this class action suit? I was included in it.
Deliberately my personal data credit card accounts and.financial information were hacked so that I would not be notified of this settlement. I was an employee at stonington institute from Feb 2018 til
MAY 2022. PLEASE ADVISE ME OF HOW TO PROCEED. The theft of my information is under investigation.
In the event my information is still at risk I can be called at 8605141467