Walgreens settles for almost $14 million

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Walgreens has settled a class-action lawsuit after agreeing to pay $13.75 million into a settlement fund for a class of approximately 195,000 current and former participants of the plan. In addition, the pharmacy will remove the Northern Trust Focus Target Retirement Trusts from the plan and to, for a period of three years, use an investment adviser for ongoing plan investment monitoring.

The settlement comes after Judge Charles Ronald Norgle of the U.S. District Court for the Northern District of Illinois refused to dismiss the case.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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