The class-action lawsuit, filed in November, 2015, alleged that the BB&T company breached their fiduciary duties by self-dealing at the expense of the plan participants.
According to the class action, BB&T used expensive proprietary investment funds managed by themselves to generate a profit regardless of the detrimental effects the actions may have on the plan participants.
Class Members in the bbt 401(k) fee class action settlement who are current and former plan participants worked for the financial institution.
Proof of Purchase
Depending on the nature of your specific claim, you may need to provide supporting materials.
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Settlement Insider is not a Settlement Administrator).
Sims, et al. v. BB&T Corp., et al., Case No. 1:15-cv-00732, in the U.S. District Court for the Middle District of North Carolina.
Settlement Website Status
Jerome J. Schlichter, Troy A. Doles and Heather Lea of Schlichter Bogard & Denton LLP, Kai H. Richter and Carl F. Engstrom of Nichols Kaster PLLP, and David B. Puryear Jr. of Puryear & Lingle PLLC.