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.
The Final Fairness Hearing took place on May 3, 2021, and the Court granted approval of the Settlement on the same day. You may read a copy of the Court's Order here.
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.