In re IndyMac ERISA Litigation

In re IndyMac ERISA Litigation We are pleased to announce that distributions were mailed to eligible Class Members on May 26, 2011. The Settlement: The settlement provides for a payment of $7 million, net of expenses described in the Settlement Agreement, to be allocated to members of the following Settlement Class: All persons other than Defendants and Defendants' spouses, parents, or children who were participants in or beneficiaries of the IndyMac Bank, F.S.B. 401(k) Plan at any time between July 1, 2006, and June 1, 2010, and whose accounts included investments in the IndyMac Stock Fund. At the Fairness Hearing on January 10, 2011, District Court Judge Pregerson took the following matters under submission: Plaintiffs' requests for final approval of the Settlement Agreement; class certification; approval of a proposed plan of allocation; an award of attorneys' fees and expenses; and service awards to Plaintiffs. On January 19, 2011, the Court entered the Final Order and Judgment approving the Settlement Agreement as well as Plaintiffs' other requests. The appeals deadline in this matter was February 18, 2011. The appeals deadline has passed, and the Settlement is final. A copy of the Notice of Class Action as well as other information concerning the Settlement can be found at www.gcginc.com/cases/idm Legal Notice of Class Action Lawsuit for Certain Participants in the IndyMac Bank, F.S.B. 401(k) Plan   Notice of Proposed Class Action Settlement   Findings and Order Preliminarily Approving Proposed Class Action Settlement   Stipulation and Agreement of Settlement   Plaintiffs' Motion and Memorandum of Points and Authorities in Support of Motion for Final Approval of Class Action Settlement, Certification of Settlement Class, and Approval of Plan of Allocation   Plaintiffs' Corrected Motion and Memorandum of Points and Authorities in Support of Motion for Award of Attorneys' Fees, Reimbursement of Expenses, and Award of Case Contribution Awards   Corrected Joint Declaration of Jeffrey G. Lewis and Derek W. Loeser in Support of (1) Plaintiffs' Motion for Final Approval of Class Action Settlement, Certification of Settlement Class, and Approval of Plan of Allocation; and (2) Plaintiffs' Motion for Award of Attorneys' Fees, Reimbursement of Expenses, and Award of Case Contribution Awards   Declaration of Michael D. Braun in Support of Plaintiffs' Motion for Award of Attorneys' Fees, Expenses and Case Contribution Award   Declaration of Aashish Y. Desai   [Proposed] Final Order and Judgment   Final Order and Judgment