IQVIA 401(k) Plan Settlement: $3.5M
IQVIA Agrees to $3.5 Million Settlement Over 401(k) Plan Mismanagement Claims
Were you a participant in the IQVIA 401(k) plan between June 23, 2014, and May 24, 2024? You might be eligible for a share of a $3.5 million ERISA settlement.
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Claim Form
Click Here to Submit a ClaimWho's eligible?
You may be eligible for a share of the settlement if you were a participant in the IQVIA 401(k) plan at any time between June 23, 2014, and May 24, 2024. This includes: Current participants (still enrolled in the plan) Former participants (no longer enrolled in the plan) Beneficiaries of participants who passed away Alternative payees designated to receive benefits from the plan
Proof of Purchase
N/A
Settlement At a Glance
Settlement Amount
Varies
Claim Form Deadline
09/23/2024
Exclusion Deadline (Opt-Out)
10/31/2024
Final Approval Hearing
12/02/2024
Additional Information
A class action lawsuit has been settled for $3.5 million against IQVIA, a health care intelligence company. The lawsuit alleged that IQVIA violated the Employee Retirement Income Security Act (ERISA) by mismanaging the IQVIA 401(k) plan (formerly known as the Quintiles 401(k) plan) in several ways:
- Failing to disclose investment options' expenses and risks adequately.
- Selecting high-cost and poorly performing investments, resulting in losses for plan participants.
IQVIA denies any wrongdoing but agreed to the settlement to avoid further litigation costs. The $3.5 million settlement fund will be distributed to eligible class members.
The settlement amount will be divided among eligible class members based on their year-end account balances in the plan during the class period (June 23, 2014, to May 24, 2024).
Current Participants: Settlement proceeds will be automatically deposited into your existing 401(k) account.
Former Participants: You can receive your share of the settlement in one of two ways:
- Check payment: You will receive a check for your share of the funds if you do not submit a claim form.
- Rollover to another qualified retirement account: Submit a valid claim form by September 23, 2024 to request a direct rollover to an IRA or other eligible retirement plan.
Think you might have a case? If you believe you've been affected by a similar situation, browse our list of Class Action Lawsuits and Open Class Action Settlements you may be able to join!
Stay Informed
Class Action Settlement Website:
https://www.strategicclaims.net/IQVIA401k/Claims Administrator:
600 North Jackson Street, Suite 205
Media, PA 19063
866-274-4004
Legal Representation
Case Name:
Class Counsel:
Alec J. Berin
MILLER SHAH LLP
Defense Counsel:
Matthew L. Riffee
GOODWIN PROCTER LLP
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