$14M Fujitsu 401(k) Plan ERISA Class Action Settlement

Who is a Class Member

Class members of the Fujitsu 401(k) Class Action Settlement include “all participants and beneficiaries of the Fujitsu Group Defined Contribution and 401(k) Plan at any time on or after June 30, 2010 through September 30, 2017 including any Beneficiary of a deceased person who was a Participant in the Plan at any time during the Class Period, and any Alternate Payees in the case of a person subject to a Qualified Domestic Relations Order who was a Participant in the Plan at any time during the Class Period.”

There are approximately 22,705 Class Members.

If you don’t qualify for this settlement, check out our database of other class action settlements you may be eligible for.

Settlement Amount

  • $14,000,000.00

Estimated Award

  • Varies

The Net Settlement Amount will be divided pro rata among eligible Class Members based on each eligible Class Member’s quarterly account balances.

Class Members who are entitled to a distribution but who no longer have active Accounts as of December 6, 2017 (“Former Participants”) will receive their allocations in the form of a check or rollover.

Proof of Purchase

  • N/A

Claim Form for Former Participants

  • class action lawsuits

Fujitsu 401(k) Settlement Notes

  • Jerry Johnson, et al., v. Fujitsu Technology and Business of America, Inc., et al.
  • Case No. 5:16- cv-03698 NC
  • Pending in the U.S. District Court for the Northern District of California

This class action lawsuit stems from allegations that Fujitsu Technology and Business of America Inc. failed to prudently and loyally control the Fujitsu Group Defined Contribution and 401(k) Plan costs and failed to manage the Plan’s investments in the best interests of Plan participants and beneficiaries,, breaching their fiduciary under ERISA.

“Defendants’ failure to prudently evaluate and manage the Plan’s recordkeeping and administrative fees, failure to implement and utilize a prudent process for selecting and monitoring the Plan’s investments in a cost-conscious manner, and their imprudent design, implementation, and monitoring of the Plan’s custom target-date funds, together constitute breaches of their fiduciary duties of prudence and loyalty,” the Fujitsu 401(k) class action alleges.

Both Fujitsu and BOA deny the claims and any liability, asserting that the Class or the Plan has not suffered any harm or damage. However, the defendants agreed settle to the tune of $14 million to avoid the uncertainty of further litigation. Complete details about the case and settlement are provided on the Fujitsu 401(k) Settlement website.

Class members who wish to object to the terms of the Fujitsu 401(k) Settlement must do so by April 6, 2018. Class members who wish to submit a Former Participant Claim Form must do so on or before April 13, 2018. Class members who are Current Participants do not need to do anything.

Important Dates

  • 4/13/18: Former Participant Claim Form Deadline
  • 4/6/18: Objection Deadline
  • 5/4/18: Final Hearing at 11:00 pm PT* (class members do not need to attend this hearing in order to receive a slice of the settlement pie).

Settlement Class Members who wish to speak at the hearing should check www.Fujitsu401kSettlement.com to confirm that the date or time of the Hearing has not been changed.

Contact Information

  • Mail: Fujitsu Group Defined Contribution and 401(k) Plan, c/o Analytics Consulting LLC, P.O. Box 2005, Chanhassen, MN 55317-2005
  • Phone: 1-866-997-1382
  • Email: info@Fujitsu401kSettlement.com

Class Counsel

Settlement Website

Leave a Comment

%d bloggers like this: