What Is This Lawsuit About?

The Named Plaintiffs, suing individually and on behalf of the Class and Plan (the “Plaintiffs”), allege that Defendants, MetLife Group, Inc., et al., breached their fiduciary duties under ERISA by including investment options in the Plan that are affiliated with MetLife and failing to adequately monitor the fees and performance of those funds. Defendants deny all claims of wrongdoing or liability against them and assert that they have always acted prudently and in the best interests of Plan participants and beneficiaries. Defendants are settling the Action solely to avoid the expense, inconvenience, and disruption of litigation, without admitting the allegations of breach and damage contained in the Amended Complaint.

Who Is in the Settlement Class?

The Court decided that everyone who fits the following description is a member of the Settlement Class:

All participants and beneficiaries of the MetLife 401(k) Plan who were invested in the MetLife Index Funds at any time on or after July 19, 2015, through December 31, 2021, excluding any persons with responsibility for the Plan’s investment or administrative functions.

If you meet the definition above, you are a member of the Class.

What Does this Settlement Provide?

A Settlement Fund has been created totaling $4,500,000. Class Member payments, and the cost to administer the Settlement, the cost to inform people about the Settlement, attorneys’ fees (inclusive of litigation costs), and awards to the Class Representatives will also come out of this fund.