This page provides the answers to class members’ most frequently asked questions.

The information provided is in summary form and is not intended as a complete explanation of your rights. For full and complete information, you are directed to review carefully the Notice.

About The Settlement

What is this lawsuit about?

The lawsuit alleges that Defendants, as fiduciaries to the Plan, violated the Employee Retirement Income Security Act (“ERISA”) by failing to prudently manage the Plan’s assets and control its costs, including by paying higher than necessary recordkeeping fees to the Plan’s recordkeepers. Defendants deny any wrongdoing and maintain that they did not violate any laws. The Court has not decided who is right or wrong.

How do I know if I am in the Settlement Class?

The Settlement Class includes all Plan participants at any point from May 6, 2013 until January 18, 2019, the effective date in which the Plan was merged into and with The Investment Partnership Plan (the “TIP Plan”), sponsored by Analog Devices, Inc.

What does the Settlement provide?

If you’re eligible and the Court approves the Settlement, you will receive a share of a $1,500,000 Settlement Fund that Defendants have agreed to create, proportional to the amount of recordkeeping fees paid by your account in the Plan from May 6, 2013 to January 18, 2019 (and after the payment of settlement expenses and attorneys’ fees). Your proportional share of the Settlement Fund will be determined by the Settlement Administrator based upon records provided by the Plan’s recordkeeper.

How do I get benefits?

If you are a Current Participant in the TIP Plan as of the date of distribution of the Settlement Payments, any payment will be made to you automatically by direct deposit to your account in the TIP Plan. If you are a Former Participant of the Plan you have the option to either roll over your payment to another tax-qualified retirement account or receive your payment in the mail by check payable to you or a successor qualified retirement account. If you prefer the former option, you must submit a Rollover Form on or before June 15, 2022.

Former Participants may submit a Rollover Form HERE.

When and where will the Court hold a hearing on the fairness of the Settlement?

The Court will hold the Final Approval Hearing at 1:30 p.m. on July 15, 2022 before the Honorable Dana Sabraw in Courtroom 13A at the United States District Court for the Southern District of California, 333 West Broadway, San Diego, CA 92101. The Court will hear objections, determine if the Settlement is fair, and consider Class Counsel’s request for costs and fees of up to 25% of the Settlement Fund and an incentive award of $7,500.