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Compliance June 2, 2009
Remainder of 2006 JPMorgan Cash Balance Class Action Settled
June 2, 2009 (PLANSPONSOR.com) - Class action law
firm Keller Rohrback L.L.P on Tuesday announced the
settlement of a 2006 challenge to the JPMorgan cash balance
plan and a period for affected participants to object to the
deal.
Reported by Fred Schneyer
A law firm news release said the agreement disposes of the lawsuit’s class-action counts remaining after an age discrimination allegation was thrown out in December 2008 and that allegations won’t be allowed to be pursued if the pact gets approval from U.S. District Judge Denise Cote of the U.S. District Court for the Southern District of New York.
Allegations by individual participants alleging a violation of the Employee Retirement Income Security Act (ERISA) cash balance notice requirement will continue to be pursued, the Keller Rohrback announcement said.
Participants have until July 6 to file objections, the notice said. The notice is available here .
The case is In re J.P. Morgan Chase Cash Balance Litigation, Master File No. 06-CV-0732.More information is available here .