Plaintiffs alleged Defendants breached their fiduciary duties pursuant to the Employee Retirement Income Security Act of 1974 by selecting and retaining risky and underperforming investment options in the Plan and allowing Plan participants to be charged unreasonably expensive investment management fees, resulting in significant losses.
On September 22, 2022, a District Judge in the United States District Court for the Northern District of California certified a class of over 30,000 people in a lawsuit against Genentech, Inc., and the U.S. Roche DC Fiduciary Committee.
On October 6, 2022, a proposed class of indirect salmon buyers obtained a class-wide settlement of $33 million to resolve antitrust claims against Norwegian salmon producers, alleging that they inflated farm-raised salmon prices in the United States. In the preliminary approval motion, counsel for the Settlement Class indicated that the settlement is “an excellent result for the class” since it would avoid lengthy litigation and the uncertainties of prosecution against foreign defendants.
On August 1, 2022, Michael Tullgren filed a complaint on behalf of himself and similarly situated class members against Booz Allen Hamilton Inc. in the United States District Court for the Eastern District of Virginia.
On August 26, 2022, Chief Magistrate Judge Joseph C. Spero of the United States District Court for the Northern District of California preliminarily approved a $185 million settlement between classes of minor league baseball players and Major League Baseball and its 30 member Clubs in a wage and hour class action lawsuit that proceeded for more than eight years.
On August 1, 2022, Andre Hall and Jermaine Minitee (collectively, “Plaintiffs”) filed a complaint on behalf of themselves and similarly situated class members against Capital One Financial Corporation in the United States District Court for the Eastern District of Virginia.
On August 3, 2022, the Honorable John C. Coughenour of the United States District Court for the Western District of Washington denied the motion to dismiss a consumer class action lawsuit against Ring LLC, the home security system subsidiary of Amazon.
On September 8, 2022, Cintas Corporation filed a petition for a Writ of Certiorari after the United States Court of Appeals for the Sixth Circuit affirmed the Southern District of Ohio’s denial of a motion to compel arbitration. The Sixth Circuit upheld the District Court’s determination that the defined contribution Cintas Partners’ Plan had not consented to arbitration and, therefore, did not fall within the parameters of the arbitration agreement that Plaintiffs had signed.
The Settlement amount covers monetary relief to the class members, awards to the lead plaintiffs, and attorneys’ fees and expenses.
On August 5th, 2022, the Hon. Judge Elizabeth S. Chestney, United States Magistrate Judge for the Western District of Texas, granted final approval of the settlement agreement reached in a class action lawsuit against Zachry Holdings, Inc., the Compensation and Benefits Committee of Zachry, and Does 1-20. The lawsuit was brought on behalf of participants and beneficiaries of ZHI 401(k) Retirement Savings Plan.