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Takeda 401(k) Settlement
Ford, et al. v. Takeda Pharmaceuticals U.S.A., Inc., et al.
No. 21-cv-10090 (D. Mass.)
United States District Court for the District of Massachusetts
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Frequently Asked Questions
Learn How This Settlement Affects Your Rights and Get Answers to Your Questions About the Settlement
Welcome to the Takeda 401k Settlement Home Page
The Court has given its preliminary approval to a proposed settlement (the “Settlement”) of a class action lawsuit brought by certain participants in the Plan alleging violations of the Employee Retirement Income Security Act (“ERISA”). The Settlement will provide for the allocation of monies directly into the individual accounts of the Settlement Class who had Plan accounts during the Class Period with a balance greater than $0 as of September 30, 2022 (“Current Participants”). Class Members who are entitled to a distribution but who no longer had a Plan account with a balance greater than $0 as of September 30, 2022 (“Former Participants”) will receive their allocation in the form of a check mailed to their last known address or a rollover, if elected.
The terms and conditions of the Settlement are set forth in the Settlement Agreement dated November 14, 2022. Capitalized terms used in this Settlement Notice but not defined in this Settlement Notice have the meanings assigned to them in the Settlement Agreement. The Settlement Agreement is available here. Any amendments to the Settlement Agreement or any other settlement documents will be posted on this website. You should visit that website if you would like more information about the Settlement and any subsequent amendments to the Settlement Agreement or other changes, including changes to the Plan of Allocation, the date, time, or location of the Fairness Hearing, or other Court orders concerning the Settlement.
| YOUR LEGAL RIGHTS AND OPTIONS UNDER THE SETTLEMENT | |
|---|---|
| IF YOU ARE A CURRENT PARTICIPANT. YOU DO NOT NEED TO DO ANYTHING TO PARTICIPATE IN THE SETTLEMENT. | If you are a Current Participant, you do not need to do anything to receive your share of the Settlement. |
| IF YOU ARE A FORMER PARTICIPANT. TO RECEIVE YOUR SHARE OF THE NET SETTLEMENT AMOUNT, YOU MUST RETURN THE ENCLOSED FORMER PARTICIPANT CLAIM FORM BY MARCH 13, 2023. | If you are a Former Participant, to receive your share of the Net Settlement Amount, you must return a Former Participant Claim Form that is postmarked or electronically filed by March 13, 2023. If you do not return the Former Participant Claim Form that is postmarked or electronically filed by March 13, 2023, you will forfeit your share of the Net Settlement Amount, even though you will be bound by the Settlement, including the release. |
| YOU CAN OBJECT (NO LATER THAN FEBRUARY 21, 2023) |
If you wish to object to any part of the Settlement, you may (as discussed below) write to the Court and counsel about why you object to the Settlement. The Court has authorized the parties to seek information through discovery from any person who files an objection, which means you could be required to produce documents and appear at a deposition to be interviewed and asked questions. |
| YOU CAN ATTEND A HEARING ON MARCH 23, 2023 | If you submit a written objection to the Settlement to the Court and counsel before the deadline, you may attend the hearing about the Settlement and present your objections to the Court. You may attend the hearing even if you do not file a written objection, but you will not be permitted to address the Court at the hearing if you do not notify the Court and counsel by February 21, 2023, of your intention to appear at the hearing. |