PHILADELPHIA, May 19, 2016 /PRNewswire/ -- The following release was issued by RG/2 Claims Administration LLC, as Claims Administrator, on behalf of Kessler Topaz Meltzer & Check, LLP and Gainey McKenna& Egleston
DUDENHOEFFER, ET AL. V. FIFTH THIRD BANCORP, ET AL.
Civil Action No. 1:08-CV-538-SSB
UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF OHIO, WESTERN DIVISION
TO: All Persons (EXCLUDING DEFENDANTS AND THEIR IMMEDIATE FAMILY MEMBERS) WHO WERE PARTICIPANTS IN OR BENEFICIARIES (INCLUDING ALTERNATE PAYEES) OF THE FIFTH THIRD BANCORP 401K SAVINGS PLAN FORMERLY KNOWN AS THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN ("PLAN") AT ANY TIME BETWEEN JULY 19, 2007 AND January 15, 2016 (THE "CLASS PERIOD") AND WHOSE PLAN ACCOUNT INCLUDED INVESTMENTS IN FIFTH THIRD STOCK.
PLEASE READ THIS NOTICE CAREFULLY. A FEDERAL COURT AUTHORIZED THIS NOTICE.
A Settlement has been preliminarily approved by a federal court in a class action lawsuit against Fifth Third Bancorp ("Fifth Third" or the "Company"), and certain individuals, including former officers and directors of Fifth Third, alleging breaches of fiduciary duties under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The lawsuit is referred to herein as the "Action." This Settlement will provide for a Settlement Amount of $6,000,000 (Six Million U.S. Dollars) to the Plan, minus Court-approved attorneys' fees and expenses, costs of administering the Settlement, and Case Contribution Awards to the Named Plaintiffs, as well as certain structural changes (i.e., Plan amendments) to the Plan as described more fully in the Settlement Agreement, without any admission of wrongdoing or fault by any of the Defendants. The Settlement Amount will be allocated pursuant to the Court-approved Plan of Allocation to Plan participants who were invested in Fifth Third Stock in their Plan accounts during the Class Period. The United States District Court for the Southern District of Ohio authorized this Notice. A final approval hearing (the "Final Approval Hearing") will be held on July 11, 2016 at 10:00 a.m. before the Honorable Sandra S. Beckwith, United States District Court Judge to determine, among other things (as set forth in the Parties' proposed Final Approval Order): (1) whether the proposed Settlement should be granted final approval; (2) whether the proposed Plan of Allocation is fair, reasonable, and adequate; (3) whether Class Counsel's request for an award of attorneys' fees, expenses and for Case Contribution Awards to the Named Plaintiffs relating to their representation of the Settlement Class should be approved; and (4) whether the Action and the claims of the members of the Settlement Class against Defendants should be dismissed with a direction to the Clerk of the Court to enter final judgment, finding that there is no just reason for delay of enforcement or appeal of the Order as set forth in the Settlement Agreement filed with the Court. The Final Approval Hearing will be held at the United States District Court for the Southern District of Ohio, Western Division, Potter Stewart United States Courthouse, 100 East Fifth Street, Cincinnati, Ohio 45202, Room 810 or such other courtroom as the Court may designate.
If you are a member of the Settlement Class as defined above, your rights may be affected by the proposed Settlement and release of Parties and claims, as set forth in the Settlement Agreement. The Defendants and their Immediate Family Members are excluded from the Settlement.
You do not have the right to exclude yourself from the Settlement in this case, but you do have the right to object by writing to the Court. Any objection to the Settlement, must be filed with the clerk of the Court and served upon each of the following law firms no later than 5:00 p.m. on June 20, 2016, at the addresses listed below:
Clerk of the Court
United States District Court for the Southern
Potter Stewart United
100 East Fifth Street
Cincinnati, Ohio 45202
Edward W. Ciolko
Mark K. Gyandoh
MELTZER & CHECK, LLP
280 King of Prussia Rd
Radnor, PA 19087
Thomas J. McKenna
Gregory M. Egleston
GAINEY McKENNA &
440 Park Avenue South
New York, NY 10016
James E. Burke
KEATING MEUTHING &
One East 4th Street
Cincinnati, OH 45202
If the Settlement is approved by the Court and you are a member of the Settlement Class, you will receive any Settlement payment you are entitled to receive under the Settlement Agreement without having to file a claim.
If you are a member of the Settlement Class and have not yet received the Class Notice, or if you want more information regarding anything in this Publication Notice, you may obtain such information by visiting www.FifthThirdERISAsettlement.com, calling toll‑free 855-979-7127, by writing to Class Counsel listed above or sending an email to FifthThirdERISAsettlement@ktmc.com.
DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, THE COMPANY, OR DEFENDANTS REGARDING THIS NOTICE. THEY WILL NOT BE ABLE TO ANSWER YOUR QUESTIONS.
DATED: May 19, 2016
By Order of the United States District Court, Southern District of Ohio
SOURCE: Melissa Baldwin, RG/2 Claims Administration LLC, 30 South 17th Street, Suite 400, Philadelphia, PA 19103, Telephone: 1-866-742-4955, Facsimile 1-215-979-1695, firstname.lastname@example.org; Edward W. Ciolko and Mark K. Gyandoh, Kessler Topaz Meltzer & Check LLP, 280 King of Prussia Road, Radnor, PA 19087, Telephone 1-610-667-7706, Facsimile 1-610-667-7056; Thomas J. McKenna and Gregory M. Egleston, Gainey McKenna & Egleston, 440 Park Avenue South, 5th Floor, New York, NY 10016, Telephone 1-212-938-1300, Facsimile 1-212-938-0383
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/notice-by-publication-of-proposed-class-action-settlement-and-settlement-hearing-300271981.html
SOURCE RG/2 Claims Administration LLC