Fujitsu 401k Class Action Lawsuit
- A class action lawsuit alleging Fujitsu Technology and Business of America Inc. violated the Employee Retirement Income Security Act (ERISA)
- Fujitsu401ksettlement.com is administered by Analytics Consulting LLC
- The Fujitsu 401k Class Action Lawsuit settlement fairness hearing will take place on or around 5/4/18
Class members in the case claim that Fujitsu Technology and Business of America Inc (along with other defendants) violated the Employee Retirement Income Security Act (aka ERISA) by breaching their fiduciary duties according to the terms of the lawsuit. Class members claim the Fujitsu 401(k) plan had high fees and that they failed to keep cost low. Fujitsu Technology denies any actions of wrong doing but have agreed to a 14 million dollar settlement in order to avoid further trial.
Defendants named in the Fujitsu class action lawsuit include: Fujitsu Technology and Business of America Inc., the Fujitsu Group Defined Contribution and 401(k) Plan Administrative Committee, the Fujitsu Group Defined Contribution and 401(k) Plan Investment Committee, and Shepherd Kaplan LLC.
- Settlement payments will be divided pro rata among eligible Class Members based on their quarterly account balances during the Class Period
- NICHOLS KASTER LLP will represent all class members who file valid claims
- The case is under review in the U.S. District Court for the Northern District of California and is numbered 5:16-cv-03698 NC
- All claim forms must be filed before 4/13/18
Who is a class members? “All participants and beneficiaries of the Fujitsu Group Defined Contribution and 401(k) Plan (the ‘Plan’) at any time on or after June 30, 2010 through September 31, 2019 (the ‘Class Period’), including any Beneficiary of a deceased person who was a Participant in the Plan at any time during the Class Period, and any Alternate Payees, in the case of a person subject to a Qualified Domestic Relations Order who was a Participant in the Plan at any time during the Class Period” – Fujitsu401ksettlement.com
Any questions in regards to the Fujitsu class action lawsuit can be directed to toll free (866) 997-1382 or send an email to [email protected]
Class members looking to file a claim form via US mail should send it to: Fujitsu Group Defined Contribution and 401(k) Plan, c/o Analytics Consulting LLC, P.O. Box 2005, Chanhassen, MN 55317-2005.