United States District Court – Central District of California
Case No: 5:20-cv-01126-SB-SHK
The settlements with the first two sets of defendants (the KPC Defendants and Alerus) have been approved, the Settlement money is in an account earning interest and there is a third settlement with the final defendant, SPCP, for which it makes economic sense to distribute at the same time as the other two settlements. Once the settlement monies are transferred to the Plan, settlement monies will be distributed to class members (if they are eligible for an immediate distribution) or transferred to their 401k plan account (if they are not eligible for an immediate distribution) within 30 days. At this time, Class Counsel expects the transfer of the settlement monies to the Plan either later in 2023 or the first part of 2024.