Pinnell, et al. v. Teva Pharmaceuticals USA, Inc., et al.
Teva ERISA Settlement
Case No. 2:19-cv-05738

Welcome to the Teva ERISA Settlement Website

If you were a participant in the Teva Pharmaceuticals Retirement Savings Plan who maintained a balance of any amount at any point during the period from December 6, 2013 through June 28, 2019, your rights may be affected by a proposed settlement of this class action lawsuit.

 

Attention:

The Final Fairness Hearing currently scheduled for May 3, 2021 at 9:30 a.m. will take place via video sharing service: FreeConferenceCall.com. Please see the Notice filed with the Court for more details.

What is this lawsuit about?

This litigation is a class action in which Named Plaintiffs Jerry Pinnell, Jeremy Fernandez, and Shane Perrilloux allege that the Defendants breached fiduciary duties owed to the participants in and beneficiaries of the Teva Pharmaceuticals Retirement Savings Plan (the “Plan”) under ERISA by, among other things, failing to attempt to reduce the Plan’s expenses and selecting for the Plan individual investment options that purportedly charged excessive fees compared to “similar” investment options available to the Plan. A copy of the Complaint as well as other documents filed in the Action are available on the Important Documents page. Defendants have denied and continue to deny all of the claims and allegations in the Action and deny any liability or wrongful conduct of any kind.

Who is in the settlement class?

You are a member of the Settlement Class if you have not previously released your legal claims against Teva pursuant to a Separation Agreement that covers the entirety of the Class Period in this case, and if you fall within the definition of the Settlement Class preliminarily approved by Judge Mark Kearney:

All persons who participated in the Plan at any time during the Class Period, including any Beneficiary of a deceased person who participated in the Plan at any time during the Class Period, and any Alternate Payee of a person subject to a Qualified Domestic Relations Order who participated in the Plan at any time during the Class Period. Excluded from the Settlement Class are Defendants and their beneficiaries.

If you are a member of the Settlement Class, the amount of money you will receive, if any, will depend upon the Plan of Allocation, available on the Important Documents page.

 

Your Legal Rights and Options Under the Settlement

Action & Due Date Explanation
You are not required to file a claim if you are entitled to a payment under the Settlement Agreement. If the Settlement is approved by the Court and you are a member of the Settlement Class, you will not need to file a claim in order to receive a Settlement payment if you are entitled to receive a payment under the Settlement Agreement.
How Settlement payments will be distributed. If you are currently participating or have an account balance in the Plan and are a Settlement Class member, any share of the Net Settlement Amount to which you are entitled will be deposited into your Plan account. If you are a Former Participant (i.e., no longer a participant in the Plan) and are a Settlement Class member, such funds shall be paid directly to you by the Settlement Administrator.

You may have objected to the Settlement by April 12, 2021.
(Passed)

If you wished to object to any part of the Settlement, you may have written the Court and the attorneys for the Parties about why you objected to the Settlement. Please see FAQ 16 for more information about objecting.
You may participate in the fairness hearing to be held on May 3, 2021 at 9:30 A.M. If you submitted a written objection to the Settlement to the Court and counsel before the Court-approved deadline, you may (but do not have to) participate in the Fairness Hearing about the Settlement and present your objections to the Court. You may participate in the Fairness Hearing even if you did not file a written objection, but you will only be allowed to speak at the Fairness Hearing if you filed or submitted a written objection in advance of the Fairness Hearing AND you file a Notice of Intention To Appear, as described in FAQ 16.
 

For More Information

Visit this website often to get the most up-to-date information.

Mail

Teva ERISA Settlement
c/o JND Legal Administration
PO Box 91343
Seattle, WA 98111