Frequently Asked Questions:
1. How Do I know if I am Part of the Settlement?
If you were a participant in the Novitex Plan at any time during the period from January 1, 2014 to December 31, 2018, inclusive, or you were a beneficiary or alternate payee of any such participant, then you are a member of the Settlement Class (a “Settlement Class Member”).
2. What is this Lawsuit About?
Plaintiff claims that Defendants breached their fiduciary duties under ERISA. Plaintiff’s allegations are described in more detail in the Second Amended Complaint (“Complaint”) available on the Settlement website. All Defendants deny any wrongdoing, and do not, by agreeing to the Settlement, admit any fault or liability arising from the allegations and claims set forth in the Complaint. Both sides agreed to the Settlement to avoid the cost and risk of further litigation.
3. What does the Settlement provide?
Defendants have agreed to create a Settlement Fund totaling $750,000 to be divided among eligible Settlement Class Members after payment of attorneys’ fees and expenses to Class Counsel, a Case Contribution Award to Class Representative Rigoberto Sandoval, and payment of other costs and expenses of the Settlement, including notice and claims administration, as the Court may allow. The Agreement, other related documentation, and a list of Frequently Asked Questions, available at the Settlement website identified below, describes the details of the proposed Settlement. Your share (if any) of the Settlement Fund will depend upon the amount and value of your Novitex Plan account(s) during the Settlement Class Period. This Settlement releases certain claims against Defendants relating to the investment of the Novitex Plan’s assets and the expenses of the Novitex Plan during the Settlement Class Period and releases all claims that were or could have been brought in the lawsuit based upon the allegations in the Complaint.
4. How do I receive a payment from the Settlement?
If you are a Settlement Class Member, are a current participant in the Exela Plan, or you are a beneficiary or alternate payee of a Novitex Plan participant who has an active account in the Exela Plan, and you are entitled to a share of the Settlement Fund according to the Agreement, you are not required to do anything to receive a payment. The payment will be made directly to your Exela Plan account(s). If you are a Settlement Class Member and you do not have an active account in the Exela Plan, or you are a beneficiary or alternate payee of a Novitex Plan participant who does not have an active account in the Exela Plan, you will need to file a Former Participant Claim Form in order to receive a payment from the Settlement Fund. If your address has changed since you closed your Plan account(s), please contact the Settlement Administrator toll-free at 866-274-4004 or by email to email@example.com to advise of the change of address.
5. Can I Exclude Myself from the Class?
No. The Class has been certified under Federal Rule of Civil Procedure 23(b)(1). Therefore, as a Settlement Class Member, you are bound by any judgments or orders that are entered in the lawsuit for all claims that were asserted in the lawsuit or are otherwise included as Released Claims as defined in the Agreement. If you wish to object to any part of the Settlement, you may (as discussed below) write to the Court and counsel about why you object to the Settlement.
6. How do I tell the Court that I do not like the Settlement?
You can ask the Court to deny approval of the Settlement and/or the Motion for Attorneys’ Fees and Expenses of Class Counsel or the Case Contribution Award to be requested for the Class Representative by filing an objection. You can’t ask the Court to order a different settlement; the Court can only approve or reject the Settlement. If the Court denies approval, no settlement payments will be sent out and the lawsuit will continue. If that is what you want to happen, you must object. The Court, however, can award less than the amount requested by Class Counsel for attorneys’ fees and expenses or the amount requested for the case contribution award and, if the Court does so, because of an objection or in its own discretion, although that ruling could affect the timing and amount of settlement payments, any such objection to or reduction in Class Counsel’s attorneys’ fees and expenses or case contribution fees to be paid to the Class Representative would not otherwise affect the finality of the Settlement.
Any objection to the proposed Settlement or Motion for Attorneys’ Fees and Expenses or Case Contribution Award must be in writing. If you file a timely written objection, you may, but are not required to, appear at the Fairness Hearing, either in person or through your own attorney. If you appear through your own attorney, you are responsible for hiring and paying that attorney. All written objections and supporting papers must (a) clearly identify the case name and number Rigoberto Sandoval v. Exela Enterprise Solutions, Inc., et al., No. 3:17-cv-1573 (MPS) (D. Conn.), (b) be submitted to the Court either by mailing them to the Clerk of the Court for the United States District Court for the District of Connecticut, Abraham Ribicoff Federal Building, United States Courthouse, 450 Main Street, Hartford, Connecticut 06103, or by filing them in person at any location of the United States District Court for the District of Connecticut, and (c) be filed or postmarked on or before August 15, 2021. Your objection must also include (1) your full name, current address, and current telephone number, and, if represented by counsel, any of your counsel’s name and contact information; (2) whether the objection applies only to the objecting Class Member, to a specific subset of the Class, or to the entire Class; (3) a statement of the position(s) the objector wishes to assert; (4) copies of any other documents that the objector wishes to submit in support of his/her/its position; and (5) a list of any other objections to any class action settlements submitted in any court, whether state, federal, or otherwise, in the United States in the previous five (5) years.
ANY CLASS MEMBER WHO DOES NOT OBJECT IN THE MANNER DESCRIBED ABOVE SHALL BE DEEMED TO HAVE WAIVED ANY OBJECTION AND SHALL NOT HAVE ANY RIGHT TO OBJECT TO THE FAIRNESS OR ADEQUACY OF THE SETTLEMENT.
|Clerk of the Court
U.S. District Court for the District of Connecticut Clerk of Court
James E. Miller
Meaghan VerGow O’Melveny & Myers LLP
7. When and Where Will the Court Decide Whether to Approve the Settlement?
On September 14, 2021 at 10:00 a.m., in the United States District Court for the District of Connecticut, Abraham Ribicoff Federal Building, United States Courthouse, 450 Main Street, Hartford, Connecticut 06103, the Court will hold a Fairness Hearing to determine whether the proposed Settlement is fair, reasonable, and adequate and whether it should be approved. The hearing may be continued from time to time by the Court without further notice, and may be held via teleconference or videoconference. Please check the website or contact Class Counsel if you wish to confirm that the hearing time has not been changed and to determine if it is occurring in person or by video or teleconference.