Your legal rights may be affected if you are a member of the following settlement class:
All DuPont Pension and Retirement Plan (Title I) (the “Plan”) participants who (a) as of the last day of the Class Period have not been reported to the Plan administrator as deceased; (b) commenced receiving payment on or after October 1, 1999 or have terminated employment and are entitled to a future payment; (c) at the time of termination of employment had an earliest unreduced benefit commencement date (“EUBCD”) that fell between the date of the termination of their employment and their Normal Retirement Date; and (d) did not commence receiving their retirement benefit as of their EUBCD.
- The Court has given its preliminary approval to a proposed settlement (the “Settlement”) as a result of a class action lawsuit brought by a participant in the Plan against E.I. du Pont de Nemours and Company (“DuPont”), alleging violations of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). DuPont denies all claims, and nothing in the Settlement is an admission or concession on DuPont’s part of any fault or liability whatsoever.
- The Settlement will provide, among other things, for the allocation of monies to Class Members. Each Class Member will automatically receive a check, which will be mailed to their last known address.
- The terms and conditions of the Settlement are set forth in the Class Action Settlement Agreement dated August 24, 2022. Capitalized terms used in the Settlement Notice but not defined in the Settlement Notice have the meanings assigned to them in the Settlement Agreement. The Settlement Agreement is available at www.DuPontERISAsettlement.com. Certain other documents also will be posted on that website. You should visit that website if you would like more information about the Settlement or the lawsuit. All papers filed in this lawsuit are also available for review via PACER, at http://www.pacer.gov, and can also be reviewed in person during regular business hours at the Office of the Clerk of the United States District Court for the District of Delaware, 844 North King St., Unit 18, Wilmington, DE 19801.
- Your rights and the choices available to you—and the applicable deadlines to act—are explained in the Settlement Notice. Please note that neither DuPont nor the Plan administrator may advise you as to what the best choice is for you or how you should proceed.
- The Court still has to decide whether to give its final approval to the Settlement. Payments under the Settlement will be made only if the Court finally approves the Settlement and that final approval is upheld in the event of any appeal.
- A Fairness Hearing will take place on February 3, 2023, at 9 A.M., before the Honorable Stephanos Bibas at the James A. Byrne U.S. Courthouse, 601 Market St, Philadelphia, PA 19106, to determine whether to grant final approval of the Settlement and approve the requested Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation.
- Any objections to the Settlement, or to the requested Attorneys’ Fees and Costs, or Class Representative Compensation, must be served in writing on Class Counsel and DuPont’s Counsel, as identified in question 11 on the Settlement Notice and the FAQ page of this website, no later than January 6, 2023.
YOU CAN DO NOTHING
|If you received a Settlement Notice, our records indicate that you are a Class Member. You do not need to do anything to receive your share of the Net Settlement Amount. If you do nothing, you will receive a check amounting to your share of the Net Settlement Amount and be bound by and will agree to all terms of the Settlement, including the release of claims as described below.|
|YOU CAN OBJECT (NO LATER THAN JANUARY 6, 2023)||If you wish to object to any part of the Settlement, or to the requested Attorneys’ Fees and Costs, or Class Representative Compensation, you must file an objection, explaining why you object, and any supporting documents with the Clerk of the Court and provide copies to Class Counsel and DuPont’s Counsel (as identified in question 11 of the Settlement Notice and the FAQ page of this website).|
|YOU CAN ATTEND A HEARING ON FEBRUARY 3, 2023||You may also attend the Fairness Hearing on February 3, 2023, but you may only speak at the Fairness Hearing if you file and serve a notice of intent to appear by January 6, 2023. You will not be permitted to make an objection if you do not comply with the requirements for making objections.|
The Class Action
The case is called Moon v. E. I. du Pont de Nemours and Company, Case No. 1:19-cv-01856 (D. Del.) (the “Class Action”, “Action”, or “lawsuit”). It has been pending since October 2, 2019. The Court supervising the case is the United States District Court for the District of Delaware. The individual who brought this lawsuit is called the Class Representative and the entity he sued is called the Defendant. The Class Representative’s claims are described on the Frequently Asked Questions page of this website.
Following negotiations between Class Counsel and DuPont’s Counsel, a Settlement has been reached. As part of the Settlement, DuPont has agreed to a Gross Settlement Amount of $7,000,000 to resolve the Class Action. The Net Settlement Amount—the amount to be allocated and distributed to Class Members—is $7,000,000, plus any interest accrued, minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Class Representative Compensation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court and described in question 5 of the Settlement Notice and FAQ page of this website.
Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation Sought in the Class Action
Class Counsel has devoted many hours to investigating the facts, prosecuting the lawsuit, reviewing documents obtained from DuPont and third parties, taking other discovery, and negotiating the Settlement. During that time, they have advanced the costs necessary to pursue the case. Class Counsel took the risk of litigation and have not been paid for any of their time or for any of these costs throughout the time the case has been pending.
Class Counsel will apply to the Court for payment of Attorneys’ Fees and Costs for their work in the case. The amount of attorneys’ fees Class Counsel will request will not exceed one-third of the Gross Settlement Amount. The amount of costs Class Counsel will request will not exceed $50,000. Any Attorneys’ Fees and Costs and Administrative Expenses of the Settlement Administrator awarded by the Court will be paid from the Settlement Fund.
Class Counsel also will ask the Court to approve payment, not to exceed $25,000, for the Class Representative who took on the risk of litigation, participated in the lawsuit, and committed to spend the time necessary to bring the case to conclusion. His activities also included assisting in the factual investigation of the case by Class Counsel, producing documents, testifying at a deposition, and giving overall support to the case. Any Class Representative Compensation awarded by the Court will be paid from the Settlement Fund.
A full and formal application for Attorneys’ Fees and Costs, and Class Representative Compensation will be filed with the Court on or before January 6, 2023. This application will be made available on the Important Court Documents page of this website. You may also obtain a copy of this application through PACER at http://www.pacer.gov, or by appearing in person during regular business hours at the Office of the Clerk of the United States District Court for the District of Delaware, 844 North King St., Unit 18, Wilmington, DE 19801.