The Settlement resolves the lawsuit concerning whether Defendants violated U.S. federal securities laws by allegedly issuing materially false and misleading statements. Defendants and Lead Plaintiffs disagree on liability and damages.
Full Answer
What happened to the $586 million settlement with JND?
All claims have been processed and settlement benefits have been sent to all eligible class members. JND Co-Founders Neil Zola and David Isaac oversaw the administration of the $586 million settlement in In re Initial Public Offering Securities Litigation, No. 21-MC-92 (S.D.N.Y.) (the “IPO Litigation”).
How do I submit a claim to JND?
Claims may be submitted online or by mail to: Blue Cross Blue Shield Settlement. c/o JND Legal Administration. PO Box 91390. Seattle, WA 98111. If you select the Alternative Option, you must submit relevant data or records showing a higher contribution percentage. Otherwise the Default Option will be used.
Who is the claims administrator for a class action settlement?
The claims administrator, JND, is highly experienced in administering large class action settlements and judgments, and it has detailed the efforts it has made in administering the settlement, facilitating claims, and ensuring those claims are properly and efficiently handled. . .
What are the legal claims being released by the settlement?
Paragraphs 6-7 of the Settlement Agreement define the claims that will be released by Settlement Class Members who did not exclude themselves from the Settlement. You can access the Settlement Agreement and read the specific details of the legal claims being released here. If you have any questions, you can contact the Settlement Administrator. 21.
What does Jnd legal administration do?
JND manages all facets of constituent outreach administration, and has experience working with the Department of Justice (DOJ), the FTC, the Securities and Exchange Commission (SEC), the Consumer Financial Protection Bureau (CFPB), and State AGs throughout the country.
Who owns JND legal administration?
Sedgwick7, 2021 /PRNewswire/ -- Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, announced it has acquired JND Legal Administration (JND), a legal management and administration services provider serving plaintiff and defendant law firms, corporations and government ...
What is settlement administrator?
Settlement Administrator means the qualified third party administrator and agent agreed to by the Parties and approved and appointed by the Court in the Preliminary Approval Order to administer the Settlement, including providing the Notice.
How is money split in a class action lawsuit?
Contrary to popular belief, class action settlements are not divided among class members evenly. Lead plaintiffs receive the most money in class action lawsuits. They typically have the worst injuries and the highest damages.
Is Jnd legal administration real?
JND is well-known throughout the legal industry for providing the most responsive, trustworthy, and comprehensive legal administrative service in the country.
What is Jndla com?
JND Legal Administration General Information The company's offerings include class action administration, legal notice programs and mass tort and lien resolution, enabling clients to have access to responsive, trustworthy and comprehensive legal administrative services. www.jndla.com.
What is a settlement notice?
Notice of Settlement means the notice to the members of the Settlement Class of: (a) this Agreement; (b) the request for Class Fees and Expenses; and (c) the Settlement Fairness Hearing.
What is proposed settlement?
(6) Proposed settlement . — The term “proposed settlement” means an agreement regarding a class action that is subject to court approval and that, if approved, would be binding on some or all class members.
What does a class action settlement administrator do?
A class action settlement (or claims) administrator is a neutral third-party that handles the claims administration process in compliance with the court-approved settlement agreement. This blueprint spells out how to administer the settlement from start to finish, which the class action administrator helps execute.
What percentage does a lawyer get in a settlement case?
What Percentage in a Settlement Case Goes to the Lawyer? A lawyer who works based on contingency fees takes a percentage of your settlement at the end of your case, which is often around one-third of your settlement, per the American Bar Association (ABA).
Is there a downside to joining class-action lawsuit?
The risk of a class-action lawsuit is that if you lose, you will not receive any compensation for your injuries. If you win, however, you will receive a financial or other non-monetary award.
Is a class-action lawsuit worth it?
Class Action Lawsuits Are More Efficient Than Individual Cases. Rather than the courts having to deal with hundreds or even thousands of individual cases across the country, each one having lawyers for both the company and the plaintiffs, there's only one case to litigate and follow.
What is claim administration?
Claims Administration means the processing of claims made under the Shared Policies, including the reporting of claims to the insurance carriers, management and defense of claims and providing for appropriate releases upon settlement of claims.
What is notice administrator?
Notice Administrator means the Court-appointed third-party agent or administrator agreed to by the Parties and appointed by the Court.
Is Kroll settlement administration legit?
This website is authorized by the United States Department of Justice and controlled by Kroll Settlement Administration LLC. This, along with DOJ's website, are the only authorized websites for this investigation.
What is a class administrator?
Class Administrator means the independent company approved by the Court to provide the Class Notice and to administer the Claims Process.
How to figure out if you are a settlement claimant?
On the settlement website, you can figure out whether you're one of the eligible claimants. Enter your last name and last six digits of your Social Security number in a website operated by the settlement administrator (not Equifax). If told your personal information was affected by the data theft, then you can file a claim.
What is the deadline for filing your claim?
The deadline to file claims is Jan. 22, 2020, for most benefits, and you won't receive anything until the settlement administrator gets the go-ahead from a court — that would be Jan. 23, 2020, at the earliest.
Who Is Covered by the Settlement?
The settlement covers individuals and insured groups (and their employees) who purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan between February 7, 2008 and October 16, 2020.
How much is the net settlement fund?
Those who submit valid claims are eligible to receive a cash payment from the approximately $1.9 billion net settlement fund. The amount of the payment will depend on, among other factors, the amount of premiums or administrative fees you paid and the number of valid claims that are filed.
How Much Can I Get from the Settlement?
Those who submit valid claims are eligible to receive a cash payment from the approximately $1.9 billion net settlement fund. The amount of the payment will depend on, among other factors, the amount of premiums or administrative fees you paid and the number of valid claims that are filed.
What is the Blue Cross Blue Shield case?
The case was filed by a group of individuals and companies who purchased or received health insurance from a Blue Cross Blue Shield company and claim that the defendants—Blue Cross Blue Shield Association and a slew of individual Blue plans—agreed not to compete with each other in selling health insurance and administrative services. According to the lawsuit, the defendants’ alleged anticompetitive conduct caused subscribers and enrollees to pay more for insurance or administrative services than they otherwise would have paid.
What is classaction.org?
ClassAction.org is a group of online professionals (designers, developers and writers) with years of experience in the legal industry.
Is the Blue Cross Blue Shield settlement a scam?
First off, the settlement is not a scam. It’s the result of a class action antitrust lawsuit called In re: Blue Cross Blue Shield Antitrust Litigation MDL 2406 and you can find the court-approved website for it here.
What is a settlement with Blue Cross Blue Shield?
Class Representatives (“Plaintiffs”) reached a Settlement on October 16, 2020 with the Blue Cross Blue Shield Association (“BCBSA”) and Settling Individual Blue Plans. BCBSA and Settling Individual Blue Plans are called “Settling Defendants.”. Plaintiffs allege that Settling Defendants violated antitrust laws by entering into an agreement not ...
What is this Settlement about?
This settlement, arising from a class action antitrust lawsuit called In re: Blue Cross Blue Shield Antitrust Litigation MDL 2406, N.D. Ala. Master File No. 2:13-cv-20000-RDP (the “Settlement”), was reached on behalf of individuals and companies that purchased or received health insurance provided or administered by a Blue Cross Blue Shield company. Class Representatives (“Plaintiffs”) reached a Settlement on October 16, 2020 with the Blue Cross Blue Shield Association (“BCBSA”) and Settling Individual Blue Plans. BCBSA and Settling Individual Blue Plans are called “Settling Defendants.”
How do I participate in the Settlement?
To make a claim and receive a payment, you must file a claim form online or by mail postmarked by November 5, 2021. Claims may be submitted online or by mail to:
How did settlement defendants violate antitrust laws?
Plaintiffs allege that Settling Defendants violated antitrust laws by entering into an agreement not to compete with each other and to limit competition among themselves in selling health insurance and administrative services for health insurance. Settling Defendants deny all allegations of wrongdoing and assert that their conduct results in lower healthcare costs and greater access to care for their customers. The Court has not decided who is right or wrong. Instead, Plaintiffs and Settling Defendants have agreed to a Settlement to avoid the risk and cost of further litigation.
Who decides whether to approve a settlement?
The Court in charge of this case still has to decide whether to approve the Settlement. Payments will be made if the Court approves the Settlement and after any appeals are resolved. Please be patient.
What happens if you select the alternative option?
If you select the Alternative Option, you must submit relevant data or records showing a higher contribution percentage. Otherwise the Default Option will be used. Instructions for submitting your claim are on the claim form, available here. When required, sufficient documentation shall include an attestation signed under penalty of perjury when other documentation is no longer available.
What is the settlement of Blue Cross Blue Shield?
Blue Cross Blue Shield Association and settling individual Blue plans have come to a $2.67 billion agreement to settle class actions alleging that Blue Cross Blue Shield companies agreed not to compete with each other and to limit competition among themselves in sales and administration of health insurance. The complaints alleged that the companies violated antitrust laws by their behavior in the US and Puerto Rico.
What does the settlement defendant agree to do?
The settling defendants also agree to make changes in the way they do business, which will benefit Injunctive Class members as well.
What is an injunctive relief class?
The Injunctive Relief Class is all individuals, insured groups, and self-funded accounts who bought, were covered by, or were enrolled in Blue-brand commercial health benefit products sold, underwritten, insured, administered, or issued by any of the settling individual Blue plan during the class periods.
What is a damage class?
The Damages Class is all individuals, insured groups (and their employees), and self-funded accounts (and their employees) who bought, were covered by, or were enrolled in Blue-brand commercial health benefit products sold, underwritten, insured, administered, or issued by any of the settling individual Blue plan during the class periods. Dependents, beneficiaries, and non-employees are not part of the Damages Class. The class periods are February 7, 2008 through October 16, 2020 for individuals and insured groups and September 1, 2015 through October 16, 2020 for self-funded accounts.
Do you need to provide additional data when submitting a claim?
If you accept the Default Option for distribution, you do not need to provide any additional data or evidence when submitting your claim. If you want to request an alternative contribution percentage instead, you must provide data or evidence to support the information you provide in table on page 7 of the Claim Form. See the Claim Form for more information.
Is The Settlement Legit?
How Much Can I Get from The Settlement?
- Those who submit valid claims are eligible to receive a cash payment from the approximately $1.9 billion net settlement fund. The amount of the payment will depend on, among other factors, the amount of premiums or administrative fees you paid and the number of valid claims that are filed. Payments will not be sent out until the settlement receives final approval and any appeals are re…
Who Is Covered by The Settlement?
- The settlement covers individuals and insured groups (and their employees) who purchased or were enrolled in a Blue Cross or Blue Shield health insurance or administrative services plan between February 7, 2008 and October 16, 2020. The settlement also covers self-funded accounts (and their employees) who purchased or were enrolled in a Blu…
How Do I File A Claim?
- The easiest way to file a claim is to use the online portal on the settlement website, found here. You’ll need your unique ID from the email or postcard you received. (If you don’t have a unique ID, you can still file a claim using the same portal.) You can also download a copy of the claim form, found here, and mail it to the below address: All claim forms must be submitted online or postma…
Where Can I Find More Information?
- For more information, check out the settlement website, particularly the FAQ section. If you still can’t find what you’re looking for, you can reach out to the settlement administrator at [email protected] or call toll-free at (888) 681-1142. If you’re interested in getting class action news and updates, including information about settlements, sent straight to your inbox, si…