Neuberger Berman Management, LLC

Summary of Case and Settlement: On February 17, 2009, The Honorable Alfred V. Covello of the United States District Court for the District of Connecticut entered an Order granting preliminary approval of a partial class action settlement on behalf of all persons or entities that are administrators of 401k Plans, which engaged Hartford Life Insurance Company as a full-service provider to design, implement, administer and/or assist in administering their 401k Plans for which, at any time since November 14, 2003, Neuberger Berman Management has served as an investment advisor. The partial settlement provides for payment to this class of 575 administrators of $225,000, less any attorneys' fees and costs approved by the Court.  
 
The Preliminary Approval Order provides for notice of the proposed settlement to members of the class by requiring the dissemination (by e-mail and first class mail) of a Class Notice (which provides general information regarding the proposed settlement). Please be advised that the deadline to object to the settlement was April 30, 2009. Final approval of the Settlement was granted by the Court on July 17, 2009. 
 
The parties’ Settlement Agreement is available for review by clicking on the “Download Settlement Agreement” link below and provides even more detail about the terms of the proposed settlement of this class action suit.  
 
Settlement Information 
 
Download Preliminary Approval Order 
 
Download Class Notice 
 
Download Settlement Agreement 
 
Download Final Approval Order

More Information: If you would like to receive additional information on the settlement, please click here.