


LinkedIn users have two days to file a claim from the social media company's $6.75 million settlement, in which it agreed to resolve claims that it mismanaged its 401(k) retirement plan.
Active and former participants of the social media company's 401(k) Profit Sharing Plan and Trust could be eligible for a payment if they participated in LinkedIn's plan between Aug. 14, 2014, and July 1, 2020.
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The networking platform agreed to the settlement earlier this year. Plaintiffs accused LinkedIn of an excessive fee in August 2020, alleging it did not use the lowest-cost share class for many of the mutual funds in the plan.
The plaintiffs in the excessive fee complaint argued LinkedIn could have saved participants millions of dollars if it considered lower-cost options.
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Active account holders will see a deposit into their individual investment accounts if they qualify and will not need to take any action to receive any funds. However, those who are former beneficiaries and alternate payees will need to file a claim by Nov. 10. Former beneficiaries will be issued a check or deposit if they qualify.
The final approval hearing for the settlement is scheduled for Nov. 16, when the individual payment for each beneficiary will be determined.