|
CMS Energy Corporation ERISA Litigation
The In re CMS Energy ERISA Litigation
Complaint was filed in the United States District Court for the Eastern
District of Michigan on behalf of Plaintiffs and a class (the "Class")
of all persons who were participants in or beneficiaries of the
Employees’ Savings and Incentive Plan of Consumers Energy Company ("the
Plan") during the Class Period.
The Complaint alleges that during the Class
Period, the Defendants breached their fiduciary duties to Plaintiffs
and the Class members by:
- failing to prudently and loyally manage
the Plan’s assets;
- failing to provide participants with
complete and accurate information regarding CMS stock sufficient to
advise participants of the true risks of investing their retirement
savings; and,
- failing to properly monitor the
performance of their fiduciary appointees, and remove and replace those
whose performance was inadequate.
|
For inquiries on the settlement or to
update your address, please contact:
Gilardi at 1 (800) 447-7657
June 28, 2006
Keller Rohrback announces final court approval of
the $28M settlement in the CMS Energy ERISA litigation. For details
regarding the final approval of the settlement, please review the
corresponding document links.
March 23, 2006
Keller Rohrback announces preliminary court
approval of the $28M settlement in the CMS Energy ERISA litigation. On
June 15, 2006, the court will hold a fairness hearing, at which time it
will determine whether to give the settlement final approval. For
details regarding the preliminarily approved settlement and the legal
rights and options for class members in relation to the settlement,
please see the attached court-ordered legal notices regarding the
settlement:
NOTICES were mailed to Class Members on
May 1, 2006
May 16, 2006
On May 16, 2006, Class Counsel moved for an award
of attorney fees, reimbursement of expenses, and award of compensation
to the Class Representatives.
May 26, 2006
On May 26, 2006, Class Counsel moved for approval
of a proposed plan of allocation for the Settlement Fund.
|
