Genentech (401k) Settlement: Scam Or Legit? Read This

Did you receive the Genentech (401k) Settlement email? It’s not a scam.

Genentech is settling a lawsuit for $250,000. The lawsuit said they were charging too much for record-keeping fees in their 401(k) program.

Who Is Eligible For The Genentech (401k) Settlement

If you’ve been part of Genentech’s U.S. Roche 401(k) Savings Plan between October 2, 2014, and January 12, 2024, you’re part of this settlement class.

Some people sued Genentech, saying they were charging too much for record-keeping and admin expenses in the 401(k) plan. Not only that, but they also claimed Genentech was picking expensive and underperforming investments instead of smarter ones. They argued that by doing this, Genentech wasn’t doing right by its duties under the law called ERISA.

How Much Is The Settlement

If you’re currently in the Genentech 401(k) plan or you’re benefiting from it in some way, you’ll automatically get your cash payment right in your investment account. No need to do anything.

But if you used to be part of the plan and you don’t have an active account anymore, you’ll need to fill out a claim form to get your check in the mail.

And just so you know, the amount you’ll get depends on the settlement terms..

How To File A Claim

If you are eligible, fill out a valid claim before the deadline on May 13, 2024

Click here to fill out a valid claim form.

Conclusion

Matthew Wehner, et al. v. Genentech Inc., et al., Case No. 3:20-cv-06894 RS, is not a scam, Just like the Greenridge Farm Settlement, Some people sued Genentech, saying they were charging too much for record-keeping and admin expenses in the 401(k) plan. Not only that, but they also claimed Genentech was picking expensive and underperforming investments instead of smarter ones. They argued that by doing this, Genentech wasn’t doing right by its duties under the law called ERISA.