Class Action Settlement In Class Action Lawsuit Against Avnet, Inc. and Avnet Pension Plan Approved By Court
A class action settlement has received final court approval in a lawsuit pending against Avnet, Inc. and the Avnet Pension Plan (collectively “defendants”) in the United States District Court for the District of Arizona (captioned Levanna C. Traylor v. Avnet, Inc. and Avnet Pension Plan, Case No. 08-cv-00918-PHX-FJM) alleging that the Avnet Pension Plan had failed to calculate lump sum distributions or potential lump sum payouts in accordance with The Employee Retirement Income Security Act of 1974 (“ERISA”) for 4500 former Avnet employees, according to the Avnet Pension Plan class action settlement website.
The Avnet Pension Plan class action settlement reportedly provides, among other things, that Avnet will provide up to $34 million to pay $29 million to Lump Sum settlement class member claims and $5 million to restricted participant settlement class members, less court-approved attorneys’ fees and expenses, named plaintiff case contribution payments (i.e., an incentive award), and settlement administration costs.
For more information on the Avnet Pension Plan class action lawsuit settlement and potential settlement benefits, call the Avnet Pension Plan class action settlement claims administrator at (877) 465-4894, send an email to info@traylorpensionclassaction.com or visit the Avnet Pension Plan class action settlement website:
www.traylorpensionclassaction.com
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