Settlement Status

A Settlement has been reached in a class action lawsuit against FMR LLC, the FMR LLC Funded Benefits Investment Committee (“FBIC”), the FMR LLC Retirement Committee (“Retirement Committee”), Fidelity Management & Research Company (“FMR”), FMR Co., Inc. (“FMRC”), and Fidelity Investments Institutional Operations Company, Inc. (“FIIOC”) (collectively, “Defendants” or “Fidelity”). The class action lawsuit involves whether or not Defendants complied with their duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) in managing the Plan. Defendants deny all claims, and nothing in the Settlement is an admission or concession on Defendants’ part of any fault or liability whatsoever.

You are included as a Class Member if you participated in the Plan at any time from November 17, 2014 to the present (the Class Period) after separating employment with Fidelity or its affiliates, and you did not receive a revenue credit to your Plan account in any Plan year or portion of a Plan year in which you maintained a Plan account balance and were no longer employed by Fidelity.

Under the Settlement, Fidelity has agreed to cause its insurers to pay $28,500,000.00 into a settlement fund. Class Members are eligible to receive a pro rata share of the amount in the settlement fund remaining after payment of Administrative Expenses, any Attorneys’ Fees and Costs that the Court awards to Class Counsel, and any Service Award to the Named Plaintiffs. Payments to Class Members who had a Plan account with a balance greater than $0.00 as of July 9, 2020 (referred to as “Participant Class Members”) will be deposited into their respective Plan accounts. Class Members who did not have a Plan account with a balance greater than $0.00 as of July 9, 2020 (referred to as “Former Participant Class Members”) must submit a claim form to be deemed an “Authorized Former Participant Class Member” and receive an allocation, and may receive their allocation in the form of a check or a rollover. Former Participant Class Members who do not timely submit a Former Participant Class Member Claim Form will not be deemed “Authorized Former Participant Class Members” and therefore will not receive monetary compensation. Participant Class Members who are determined to no longer have a Plan account with a balance greater than $0.00 as of the date of their Settlement payments will be treated as “Authorized Former Participant Class Members” and will receive an allocation by check without the need to submit a Former Participant Class Member Claim Form.