Class-action settlement: Deadline to file for $6.75 million LinkedIn settlement in three days
LinkedIn Settles $6.75 Million Lawsuit Over Mishandled 401(k) Plan
Earlier this year, LinkedIn Corp. reached a $6.75 million settlement to resolve allegations of mishandling its 401(k) Profit Sharing Plan and Trust. This social media giant has been given a deadline of three days to submit a claim form for active or former participants.
Act Now to Secure Your Claim
If you’re interested in receiving compensation, you must file a claim by November 10th. To be eligible, you must have been a part of LinkedIn’s 401(k) Profit Sharing Plan and Trust between August 14, 2014, and July 1, 2020.
Plaintiffs accused LinkedIn of charging excessive fees in August 2020, claiming that the company failed to utilize the lowest-cost share class for many of the mutual funds in the plan. They argued that by considering more affordable options, LinkedIn could have saved participants millions of dollars.
Don’t Miss Out - Click Here to Read More from The Washington Examiner
If you’re an active account holder who qualifies for a payout, you can expect a deposit into your individual investment account. Active participants do not need to take any action. However, former beneficiaries and alternate payees must file a claim by November 10th. If eligible, former beneficiaries will receive a check or deposit.
The final approval hearing for the settlement is scheduled for November 16th, during which the individual payment for each beneficiary will be determined.
When will the final approval hearing take place for the settlement, and what will be determined during this hearing
LinkedIn Corp. has recently settled a $6.75 million lawsuit in relation to its mishandling of its 401(k) Profit Sharing Plan and Trust. This settlement comes after allegations were made earlier this year, accusing LinkedIn of charging excessive fees and failing to choose the lowest-cost share class for the mutual funds within the plan. Plaintiffs argue that by opting for more affordable options, LinkedIn could have potentially saved participants millions of dollars.
To benefit from this settlement, individuals must file a claim by November 10th and have been a part of LinkedIn’s 401(k) Profit Sharing Plan and Trust between August 14, 2014, and July 1, 2020. The settlement requires LinkedIn to submit a claim form within three days.
Active participants who qualify for compensation can expect a deposit into their individual investment accounts without needing to take any action. However, former beneficiaries and alternate payees must file a claim by November 10th in order to be eligible for a payout. Former beneficiaries, if eligible, will receive either a check or deposit.
It is important to note that the final approval hearing for this settlement will take place on November 16th. During this hearing, the individual payment for each beneficiary will be determined, thus concluding this lawsuit.
If you believe you are eligible for compensation as an active or former participant of LinkedIn’s 401(k) Profit Sharing Plan and Trust, it is crucial that you file a claim before the November 10th deadline. By doing so, you can secure your claim and potentially receive the compensation you deserve.
For more information and to read further details about this settlement, please click here to visit The Washington Examiner.
In conclusion, LinkedIn Corp. has settled a $6.75 million lawsuit concerning the mishandling of its 401(k) Profit Sharing Plan and Trust. Active and former participants have an opportunity to file a claim by November 10th and potentially receive compensation. This settlement serves as a reminder for companies to handle employee retirement plans responsibly and consider more affordable alternatives to benefit their participants.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
