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Compliance June 2, 2009
Remaining JPMorgan Cash Balance Suits Settle
Class-action law firm Keller Rohrback L.L.P on Tuesday announced the settlement of a 2006 challenge to the JPMorgan cash balance plan.
Reported by Fred Schneyer
A news release from the law firm said the agreement disposes of the lawsuit’s class-action counts remaining after an age discrimination allegation was thrown out in December 2008. The firm also said 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, Keller Rohrback said.
Participants have until July 6 to file objections to the settlement, 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.