If you participated in the Aluminum Precision Products Employee Stock Ownership Plan (ESOP) at any time since March 27, 2018, you may be eligible to receive a payment from a $2 million ERISA class action settlement.
Most eligible participants do not need to file a claim. Current participants will generally receive their payment automatically, while former participants have the option to receive their payment by check or roll it over into an eligible retirement account.
Why Did This Lawsuit Happen?
The lawsuit alleged that the ESOP Committee of the Aluminum Precision Products Employee Stock Ownership Plan failed to properly manage the plan’s other investments account, violating certain provisions of the Employee Retirement Income Security Act (ERISA).
Who Qualifies for the Settlement?
You may be included if you were:
- A participant or beneficiary of the Aluminum Precision Products Employee Stock Ownership Plan (ESOP) at any time since March 27, 2018, and
- You did not serve on the ESOP Committee during that period.
The settlement includes both:
- Current Plan Participants
- Former Plan Participants
How Much Can You Receive?
Eligible class members will receive a pro rata cash payment from the $2 million settlement fund.
Your payment will depend on:
- Your average balance in the Plan’s Other Investments Account, compared with the average balances of all eligible class members.
After court-approved deductions for attorneys’ fees, administrative expenses, and other approved costs, the remaining settlement funds will be distributed to eligible participants.
Your Options
| Option | What Happens | Deadline |
|---|---|---|
| Current Participant | No action is required. Your settlement payment will automatically be deposited into your Plan account if you are still an active participant when distributions are made. | No action required |
| Former Participant (Receive Check) | No action is required. If you do nothing, your payment will be mailed to you by check. | No action required |
| Former Participant (Rollover) | Submit a Rollover Form if you want your payment transferred to an IRA or another eligible retirement plan instead of receiving a check. | September 2, 2026 |
| Object | File a written objection if you disagree with any part of the settlement or requested fees and expenses. | August 26, 2026 |
| Attend the Final Fairness Hearing | You may attend and speak at the hearing if you timely submit the required notice to appear. | September 16, 2026 |
How to File a Claim?
No claim form is required.
Payment depends on your current participation status:
- Current participants will receive their settlement allocation directly into their Plan account.
- Former participants who submit a timely Rollover Form will have their payment transferred to an eligible IRA or retirement plan.
- Former participants who do not submit a Rollover Form will receive a paper check mailed to their address on file.
If your mailing address has changed, it’s a good idea to update your information with the settlement administrator to avoid delays.
