Case No. 17-3695 (AET)(DEA) (D. N.J.)
Princeton University ERISA Settlement
NOTICE OF CLASS ACTION SETTLEMENT, SETTLEMENT FAIRNESS HEARING,
AND MOTION FOR AN INCENTIVE AWARD FOR PLAINTIFF,
AND ATTORNEY’S FEES AND REIMBURSEMENT OF ATTORNEY EXPENSES
The Settlement has received Final Approval. According to the Settlement terms, the Net Settlement Fund is allocated per the terms of the Plan of Allocation on a proportionate basis among the individuals who were participants in the Princeton University Retirement Plan or Princeton University Retirement Savings Plan during the period May 24, 2011, through July 31, 2020. If you are an active account holder under the Retirement Plan or the Retirement Savings Plan, your allocation has been or will be deposited into your retirement account. If you no longer have an active account at the time of distribution, your allocation (if it is in the amount of at least $25) has been deposited into an account with Retirement Clearinghouse.
The Notice and this Website advise you of the Settlement of Nicolas v. The Trustees of Princeton University, Case No. 17-3695 (AET)(DEA) (D. N.J.) (the “Action”), a class action lawsuit brought by Elysee Nicolas (“Plaintiff”) on behalf of himself, the Princeton University Retirement Plan (“Retirement Plan”) and the Princeton University Savings Plan (“Retirement Savings Plan”), and the Settlement Class Members described below, against Defendant The Trustees of Princeton University (“Defendant” or “University”) (collectively with Plaintiff, the “Parties”). The Action was brought under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Settlement would release Defendant and related parties from any claims filed against them in the Action. The terms and conditions of the Settlement are set forth in the Stipulation of Settlement (“Stipulation”). Capitalized terms used in this Notice but not defined in this Notice have the meanings assigned to them in the Stipulation. The Stipulation and additional information with respect to the Action and the Settlement are available in the 'Documents' section of this Website or by contacting Class Counsel as described below.
The Parties have agreed to settle this case for $5,800,000 (the “Settlement Amount”) plus certain prospective relief. The Court has preliminarily approved the Settlement, which provides for allocation of Settlement funds to Settlement Class Members. The Court has scheduled a hearing concerning final approval of the Settlement and Class Counsel’s motion for attorney’s fees and expenses and for an incentive award to Plaintiff. That hearing, before the Honorable Douglas E. Arpert, is scheduled on December 22, 2020 at 10 a.m. in Courtroom 6W at the U.S. District Court, Clarkson S. Fisher Building & U.S. Courthouse, 402 East State Street, Room 2020, Trenton, New Jersey 08608. (However, on notice to all parties, counsel of record, Objectors, and persons who have filed timely Notices of Intention to appear, the Court in its discretion may determine to conduct the hearing by telephonic or electronic means.) If final approval is granted, the Settlement will bind you as a Settlement Class Member. You may appear at this hearing and/or object to the Settlement. Any objections to the Settlement, the motion for attorney’s fees and expenses, and/or the request for Plaintiff’s incentive award must be served in writing on the Court and the Parties’ counsel. More information about the hearing and how to object is explained in the Notice.
YOUR LEGAL RIGHTS WILL BE AFFECTED WHETHER OR NOT YOU TAKE ANY ACTION. READ THE NOTICE CAREFULLY. PLEASE DO NOT CONTACT DEFENDANT OR THE COURT. THEY WILL NOT BE ABLE TO ANSWER YOUR QUESTIONS.
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT|
|You can do nothing. (No action is necessary to receive an allocated payment.)||If the Settlement is approved by the Court and you are a Settlement Class Member entitled to a payment under the Plan of Allocation, you do not need to do anything to receive a payment.|
|You can submit an objection. (It must be filed by December 8, 2020.)||If you wish to object to any part of the Settlement, you may write to the Court and Counsel and explain why, as described below.|
|You can appear at the Fairness Hearing on December 22, 2020.||If you submit a written objection to the Settlement before the Court-approved deadline, you may (but do not have to) speak in Court about the fairness of the Settlement.|