The settlement will benefit anyone who was a participant in or beneficiary of the IBM 401(k) Plus Plan at any time from January 21, 2014, through October 20, 2014. You may be eligible for a potential award from the IBM 401(k) Plan Class Action Lawsuit!
According to the class action, the company was accused of dropping stocks, violating the Employee Retirement Income Security Act (ERISA). So if you are eligible, there is no claim form is required to receive your potential award!
IBM 401(k) Plan Class Action Lawsuit
- Claim Form Deadline: None
- Who’s Eligible: Anyone who was a participant in or beneficiary of the IBM 401(k) Plus Plan at any time from Jan. 21, 2014, through Oct. 20, 2014, and whose plan accounts included investments in the IBM Stock Fund.
- Estimated Amount: Varies
- Each Class Member’s net loss will be calculated. This number will be equal to the number of IBM Stock Fund shares they acquired during the Class Period minus the number of shares sold, with the difference multiplied by the amount of the decline in the net asset value of the IBM Stock Fund on Oct. 20, 2014.
- Net losses will be aggregated to yield the total loss over the plan of allocation and each Class Member’s percentage of that amount will be calculated.
- The settlement administrator will apply that percentage to the settlement proceeds in order to calculate each Class Member’s preliminary share.
- All participants whose preliminary share is calculated to be greater than zero but less than $25 will be deemed to have a share of zero dollars.
- The administrator then will recalculate the net loss percentage of Class Members whose preliminary share was greater than $25 in order to determine each Class Member’s final share.
- Proof of Purchase: No proof of purchase is required for this settlement.
- Case Name & Number: Larry J., et al. v. Retirement Plans Committee of IBM, et al., Case No. 1:15-cv-03781-WHP in the U.S. District Court for the Southern District of New York
(Click here to file a claim)
How To File a Claim
- Head over to the IBM 401(k) Plan Claim Form.
- Read over the claim form to see if you are eligible.
- Complete the claim form with your info.
- Submit your claim form to receive your potential award!
If you are eligible, file a claim by the deadline to receive your potential award! Don’t forget to take a look at our full list of Class Action Lawsuit Settlements! Be sure to give our list of No-Proof Class Action lawsuit to see other settlements you may qualify for.