Settlements and Recoveries
Several ERISA cases that Keller Rohrback has been actively involved in have now been resolved with employers paying over $1 billion to retirement plan participants and beneficiaries. These cases involved the following companies:
IndyMac
On January 10, 2011, the court granted final approval of the $7,000,000 settlement.
Washington Mutual, Inc. (401(k) Plan)
On January 7, 2011, the court granted final approval of the $49,000,000 settlement.
Beazer Homes USA, Inc.
On November 15, 2010, the court granted final approval of the $5,500,000 settlement.
Washington Mutual, Inc. (Pension Plan)
On October 29, 2010, the court granted final approval of the $20,000,000 settlement.
Oneida Ltd.
On October 4, 2010, the court granted final approval of the $1,850,000 settlement.
Marsh & McLennan Cos. Inc.
On January 29, 2010, the court granted final approval of the $35,000,000 settlement.
Countrywide Financial Corp.
On November 16, 2009, the court granted final approval of the $55,000,000 settlement.
Merrill Lynch & Co., Inc.
On August 21, 2009, the court granted final approval of the $75,000,000 settlement.
Xerox Corp.
On April 14th, 2009, the court granted approval of the $51,000,000 settlement.
Syncor Int'l Corp.
On October 22, 2008, the court granted final approval of the $4,000,000 settlement.
Goodyear Tire & Rubber Co.
On October 22, 2008, the court granted final approval of the $8,375,000 settlement.
American Int'l Group, Inc.
On October 7, 2008, the court granted final approval of the $24,200,000 settlement.
Southern Co.
On August 14, 2007, the court granted final approval of the $15,000,000 settlement.
Polaroid Corp.
On June 22, 2007, the court granted final approval of the $15 million settlement.
Mirant Corp.
On November 16, 2006, the court granted final approval of the $9,700,000 settlement.
HealthSouth Corp.
On June 28, 2006, the court granted final approval of the $28,850,000 settlement.
CMS Energy Corp.
On June 27, 2006, the court granted final approval of the $28,000,000 settlement.
WorldCom, Inc.
On November 21, 2005, the court granted final approval of the $48,000,000 settlement.
Williams Cos., Inc.
On November 16, 2005, the court granted final approval of the $55,000,000 settlement, plus equitable relief in the form of a covenant that Williams will not take any action to amend the 401(k) plan: to (i) reduce the employer match thereunder below four (4) percent prior to January 1, 2011; or (ii) require that the employer match be restricted in Company stock prior to January 1, 2011.
Enron Corp.
On May 24, 2005, the court granted partial settlement providing injunctive relief and payment of approximately $85,000,000 to the 401(k) plan. Additional final settlements have been reached, including a settlement with Enron itself for an agreed claim in the Enron bankruptcy in the amount of $356,250,000, as well as a $1,250,000 partial settlement that resolves claims against Arthur Andersen LLP and David B. Duncan. Additionally, a partial settlement providing for, among other relief, payment of $37,500,000 to resolve claims against the Northern Trust Company was approved on July 24, 2006.
Global Crossing Ltd.
On December 29, 2004, the court granted final approval of the $79,000,000 settlement.
Dynegy Inc.
On December 10, 2004, the court granted final approval of the $30,750,000 settlement.
Household Int'l
On November 22, 2004, the court granted final approval of the $46,500,000 settlement.
Lucent Technologies, Inc.
On December 12, 2003, the court granted final approval of the $69,000,000 settlement.
Providian Financial Corp.
On June 30, 2003, the court granted final approval of the $8,600,000 settlement.
