$3.5M IQVIA 401(k) class action settlement

Current and former participants could benefit from a $3.5 million IQVIA settlement resolving claims the company mismanaged its retirement plan.

The settlement benefits current participants, former participants, beneficiaries and alternative payees of the IQVIA 401(k) plan, formerly known as the Quintiles 401(k) plan, between June 23, 2014, and May 24, 2024.

According to the retirement plan class action lawsuit, IQVIA violated the Employee Retirement Income Security Act by failing to disclose the expenses and risks of its 401(k) retirement investment options. The company also selected high-cost and poorly performing investments that caused participants to lose money, the plaintiffs contend.

IQVIA is a health care intelligence company that enables health care innovations.

IQVIA hasn’t admitted any wrongdoing but agreed to pay $3.5 million to resolve the 401(k) settlement.

Under the terms of the IQVIA settlement, class members can receive a share of the net settlement fund based on their year-end account balances during the class period. Current participants will receive their share of the settlement fund as additions to their active accounts. Former participants will receive their share of the settlement fund either as a check or as a rollover to an IRA or other retirement plan.

The deadline for objection is Oct. 31, 2024. There is no exclusion option for this settlement.

The final approval hearing for the settlement is scheduled for Dec. 2, 2024.

To receive a settlement payment, class members must submit a valid claim form by Sept. 23, 2024.

Who’s Eligible

Current participants, former participants, beneficiaries and alternative payees of the IQVIA 401(k) plan, formerly known as the Quintiles 401(k) plan, between June 23, 2014, and May 24, 2024.

Potential Award

Varies

Proof of Purchase

N/A

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

09/23/2024

Case Name

Dearing, et al. v. IQVIA Inc., et al., Case No. 1:20-cv-00574-WO-JEP, in the U.S. District Court for the Middle District of North Carolina

Final Hearing

12/02/2024

Settlement Website

StrategicClaims.net/IQVIA401k

Claims Administrator

IQVIA 401(k) Settlement Administrator
c/o Strategic Claims Services
600 North Jackson Street, Suite 205
Media, PA 19063
[email protected]
866-274-4004

Class Counsel

Laurie Rubinow
Alec J Berin
MILLER SHAH LLP

Defense Counsel

James O Fleckner
Matthew L Riffee
GOODWIN PROCTER LLP