This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Harwood Feffer LLP And Milberg LLP Announce A Proposed $8.5 Million Cash Settlement Of An ERISA Class Action On Behalf Of Certain Participants In The Macy's, Inc. Profit Sharing 401(k) Investment Plan And The May Department Stores Company Profit Sharing Plan

NEW YORK, Jan. 22, 2013 /PRNewswire/ -- In the United States District Court for the Southern District of Ohio, Western Division, in Shanehchian , et al. v. Macy's Inc. , et al., Case No. 1:07-cv-00828-SAS-SKB, a summary notice has been issued as follows:

Summary Notice of Proposed Class Action Settlementand Scheduling of Final Fairness Hearing

To:  All individuals who were participants in the Macy's, Inc. Profit Sharing 401(k) Investment Plan and/or the May Department Stores Company Profit Sharing Plan at any time between February 27, 2005 and July 24, 2012 whose account included an investment in the Macy's Company Stock Fund at any time during that period.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO A PAYMENT FROM THE SETTLEMENT FUND.  PLEASE READ CAREFULLY.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the above-referenced action has been certified as a class action for purposes of a proposed $8.5 million cash settlement, subject to review and final approval by the Court.  As part of the proposed settlement, class members who show a loss under the proposed Plan of Allocation may be entitled to a payment from the settlement. You do not need to do anything to receive a payment under the settlement but your rights will be affected.  The settlement includes a release of claims related to the administration of the Plans, the selection of investment options under the Plans, and disclosures about those investment options.

A hearing will be held before the Honorable S. Arthur Spiegel in the Potter Stewart United States Courthouse, 100 East Fifth Street, Cincinnati, OH  45202, at 10:00 a.m,  on May 1, 2013 to determine whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the proposed Plan of Allocation and class counsel's applications for attorneys' fees, expenses and case contribution awards.

You cannot exclude yourself from the settlement. You can, however, file written comments or objections with the Court.  You or your lawyer may also appear and speak at the hearing at your own expense.  To do so, you must send your comments and objections to the Court and the parties' attorneys no later than March 21, 2013.  Detailed instructions can be found on the Settlement Website at www.berdonclaims.com/macys , where you can also obtain a more detailed notice about the terms of the settlement, how the existence of a qualifying loss will be determined and how the payments will be calculated, along with the settlement agreement and related materials.  Additional information and materials, including class counsel's application for attorneys' fees, will be posted on the Settlement Website as they are filed with the Court.  You may also write to Macy's ERISA Litigation Settlement, P.O. Box 9014, Jericho, NY 11753-8914 to request copies of these materials.

All other inquiries may be made by writing to class counsel at: 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs