NCL Corp. 401(k) mismanagement $615K class action settlement

NCL Corp. agreed to pay $615,000 to resolve claims that it mismanaged the NCLC 401(k) Plan.

The settlement benefits those who, between Sept. 16, 2016, and March 31, 2023, were current or former NCLC 401(k) Plan participants, the beneficiary of a deceased plan participant or an alternate payee of an NCLC 401(k) Plan participant subject to a qualified domestic relations order (QDRO).

Plaintiffs in the class action lawsuit claim NCL violated its fiduciary duties under the Employee Retirement Income Security Act (ERISA) by charging excessive fees. According to the class action lawsuit, NCL also chose “poorly performing investments” which harmed participants’ retirement savings.

NCL Corp. is a cruise company that operates Oceania Cruises, Regent Seven Seas Cruises and more.

NCL hasn’t admitted any wrongdoing but agreed to a $615,000 settlement to resolve the ERISA class action lawsuit.

Under the terms of the settlement, class members can receive a cash payment based on their average account balance during the class period. 

Current participants will receive their payments as an account deposit into their accounts. Current participants with a zero account balance, former participants, beneficiaries and alternate payees will receive their settlement payment as a check. 

The deadline for exclusion and objection was Jan. 16, 2024.

The final approval hearing for the NCL class action settlement is scheduled for Feb. 15, 2024.

Current participants, beneficiaries and alternate payees do not need to take action to receive settlement benefits. 

However, former participants, beneficiaries and alternate payees must submit a valid claim form by Feb. 5, 2024, in order to receive settlement payments.

Who’s Eligible

Those who, between Sept. 16, 2016, and March 31, 2023, were current or former NCLC 401(k) Plan participants, the beneficiary of a deceased plan participant or an alternate payee of an NCLC 401(k) Plan participant subject to a qualified domestic relations order (QDRO).

Potential Award

Varies

Proof of Purchase

Social Security number and birth date of a former participant, beneficiary or alternate payee

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

02/05/2024

Case Name

Angelo, et al. v. NCL Corp. Ltd., et al., Case No. 1:22-cv-22962-AHS, in the U.S. District Court for the Southern District of Florida

Final Hearing

02/15/2024

Settlement Website

ThompsonNCLSettlement.com

Claims Administrator

Thompson v NCLC
PO Box 23309
Jacksonville, FL 32241
800-636-5429

Class Counsel

WENZEL FENTON CABASSA PA 

MCKAY LAW LLC

Defense Counsel

BRYAN CAVE LEIGHTON PAISNER LLP