Pease v. Jackson National Life Insurance Company,

17-cv-00284-JTN-ESC (W.D. Mich.).

Court authorized notice of Potential Settlement.

This is not a solicitation from a lawyer.

Please be advised that the distribution of the net settlement fund to eligible Class Members was completed on July 24, 2019 through a deposit to their Plan account. 

For those Class Members who have previously received a total distribution of the Plan account (“Former Participants”), their Plan account will be re-established by Fidelity in order to receive their allocation of the Net Settlement Amount. To the extent feasible and ascertainable, those settlement proceeds will be invested in accordance with each Class Member’s instructions for investment of new contributions at the time the distribution is made, or, if no such instructions are in effect, to the applicable qualified default investment option.

Please be advised that the Court entered the Final Approval Order and Judgment on April 23, 2019. A copy of that Order is available on the Case Documents page of this website. 

On December 10, 2018, the court entered Preliminary Approval of a Settlement in Pease v. Jackson National Life Insurance Company (“JNL”).  This website advises you of the preliminarily approved settlement of a lawsuit.  In the lawsuit, Plaintiff alleges various claims related to the operation of the Jackson National Life Insurance Company Defined Contribution Retirement Plan (“the Plan”).  In particular, Plaintiff claims that JNL breached its duties of prudence and loyalty by including almost exclusively investment choices affiliated with JNL and that JNL received excessive compensation from the Plan in connection with those investment choices. JNL denies all of the allegations in the lawsuit and contends that its conduct was entirely proper. You should read the notice carefully because your legal rights will be affected whether you act or not.

This website explains your rights and options, including the deadline for you to object if you are opposed to this Settlement.

Legal Rights and Options

Object

You can write the court about what you do not like about the Settlement or the Motion for Attorneys’ Fees.

Received on or before - February 24, 2019

Settlement Hearing

March 26, 2019 t 1:30 p.m.