Civil Plaintiff

$8M in Fees in Anthem 401(k) Settlement

The lawyers who negotiated a $23.7 million class settlement with an Anthem Inc. subsidiary won nearly $8.4 million in attorneys’ fees and expenses, pursuant to an order from a federal judge in the Southern District of Indiana.

Schlichter Bogard & Denton LLP, which represented a class of thousands of participants in Anthem Inc.’s $5.1 billion 401(k) plan, is entitled to one-third of the monetary settlement it negotiated, Judge Tanya Walton Pratt said. She noted that the deal also included “significant and powerful” non-monetary relief, including plan design changes and tax benefits, which bumped the deal’s total value to more than $62 million.

Walton’s order was full of praise for Schlichter Bogard, which has negotiated similar multi-million dollar settlements in 401(k) suits against Boeing Co., Lockheed Martin Corp., and ABB Inc.

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