NOTICE OF CLASS ACTION SETTLEMENT
You received a Notice of Class Action Settlement (“Notice”) because the records of the CDI Corporation 401(k) Savings Plan (the “Plan”) indicate that you were a participant in the Plan who maintained a balance of any amount at any point during the period from July 7, 2014 through July 7, 2020, (the “Class Period”). As such, your rights may be affected by a proposed settlement of this class action lawsuit (the “Settlement”). Please read the following information carefully to find out what the lawsuit is about, what the terms of the proposed Settlement are, what rights you have to object to the proposed Settlement Agreement if you disagree with its terms, and what deadlines apply.
The Notice contains summary information with respect to the Settlement. The complete terms and conditions of the Settlement are set forth in a Settlement Agreement (“Settlement Agreement”). Capitalized terms used in this Notice, but not defined in the Notice, have the meanings assigned to them in the Settlement Agreement.
The Court in charge of this case is the United States District Court for the Eastern District of Pennsylvania. The persons who sued on behalf of themselves and the Plan are called the “Named Plaintiffs,” and the people they sued are called “Defendants.” The Named Plaintiffs are Adam Crawford, Lucia DePretto, and Megan Waier Bennett. The Defendants are CDI Corporation, the Board of Directors of CDI Corporation, and the CDI Corporation 401(k) Savings Plan Committee. The Action is known as Crawford, et al., v. CDI Corporation, et al., No. 2:20-cv-3317-CFK (E.D. Pa.).
| YOUR LEGAL RIGHTS AND OPTIONS UNDER THE SETTLEMENT | |
|---|---|
YOU ARE NOT REQUIRED TO FILE A CLAIM IF YOU ARE ENTITLED TO A PAYMENT UNDER THE SETTLEMENT AGREEMENT. |
If the Settlement is approved by the Court and you are a member of the Settlement Class, you will not need to file a claim in order to receive a Settlement payment if you are entitled to receive a payment under the Settlement Agreement. |
HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED. |
If you are currently participating or have an account balance in the Plan and are a Settlement Class member, any share of the Net Settlement Amount to which you are entitled will be deposited into your Plan account. If you are a Former Participant (i.e., no longer a participant in the Plan) and are a Settlement Class member, such funds shall be paid directly to you by the Settlement Administrator. |
YOU MAY OBJECT TO THE SETTLEMENT BY OCTOBER 25, 2021. |
If you wish to object to any part of the Settlement, you may (as discussed below) write to the Court and the attorneys for the Parties about why you object to the Settlement. |
YOU MAY PARTICIPATE IN THE FAIRNESS HEARING TO BE HELD ON NOVEMBER 22, 2021. |
If you submit a written objection to the Settlement to the Court and counsel before the Court-approved deadline, you may (but do not have to) participate in the Fairness Hearing about the Settlement and present your objections to the Court. You may participate in the Fairness Hearing even if you do not file a written objection, but you will only be allowed to speak at the Fairness Hearing if you file a written objection in advance of the Fairness Hearing AND you file a Notice of Intention To Appear, as described in the answer to FAQ 16. |
- These rights and options—and the deadlines to exercise them—are explained in the Notice.
- The Court still has to decide whether to approve the Settlement. Payments will be made only if the Court approves the Settlement and that approval is upheld in the event of any appeal.
Further information regarding this litigation and the Notice may be obtained by contacting the following Class Counsel:
Eric Lechtzin
Edelson Lechtzin LLP
3 Terry Drive
Suite 205
Newtown, PA 18940
Tel: (215) 867-2399
Class Counsel has established a toll-free phone number to receive your comments and questions: 844-601-1101. You should contact Class Counsel with any questions regarding this Settlement, not the Court, CDI, or counsel for the Defendants.