In re Indymac ERISA Litigation
Published: Dec. 11, 2010 | Result Date: Sep. 16, 2010 | Filing Date: Jan. 1, 1900 |Case number: 2:08-cv-04579-DDP-VBK Settlement – $7,000,000
Court
USDC Central
Attorneys
Plaintiff
Jeffrey G. Lewis
(Keller Rohrback LLP)
James P. Keenley
(Bolt Keenley Kim LLP)
Patrice L. Bishop
(Stull, Stull & Brody)
Michael D. Braun
(Braun Law Group PC)
Daniel L. Keller
(Keller, Fishback & Jackson LLP)
Derek W. Loeser
(Keller Rohrback LLP)
Defendant
John W. Spiegel
(Munger, Tolles & Olson LLP)
Christian J. Pistilli
(Covington & Burling LLP)
Hailyn J. Chen
(Munger, Tolles & Olson LLP)
Jonathan M. Weiss
(Kirkland & Ellis LLP)
Facts
Participants and beneficiaries of the IndyMac Bank F.S.B. 401(k) Plan between July 1, 2006 and June 1, 2010, with accounts consisting of investments in the IndyMac Bancorp Inc. stock fund, filed an action against the fiduciaries of the Plan.
Contentions
PLAINTIFFS' CONTENTIONS:
Plaintiffs argued that defendants breached their fiduciary duty under the Employment Retirement Income Security Act (ERISA) in relation to the plan.
Result
The parties reached a settlement amounting to $7 million.
Other Information
FILING DATE: July 14, 2008.
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