WHAT’S THE EXPOSURE?
• Settlements up to $140 million
• Last year alone, settlements of $17 million, $22 million, $24 million, and among others
• Plaintiffs’ lawyers generally get 1/3 of the settlement amounts
• Plaintiffs’ lawyers seek not only money, but equitable relief in the form of changes to business practices
• Plaintiffs’ lawyers have amassed a war chest from contingency fees and are looking for new targets
HOW DO THESE LAWSUITS GET FILED?
• Discovery in previous cases has given Plaintiffs’ lawyers knowledge of industry practices
• Plaintiffs’ lawyers “investigate” retirement plans with a view toward soliciting participants as plaintiffs for class action law suits
• Plaintiffs’ lawyers use the internet, social media, television, radio and newspaper advertising
• Disgruntled employees are solicited in this way and call 800 numbers
Please see full publication below for more information.
