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Davis et al v. Magna International of America, Inc. et al

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Case overview

Case Number:

2:20-cv-11060

Court:

Michigan Eastern

Nature of Suit:

Labor: E.R.I.S.A.

Multi Party Litigation:

Class Action

Judge:

Nancy G. Edmunds

Firms

Companies

Sectors & Industries:

  1. January 27, 2025

    Attys Secure $967K Fee Award In Magna 401(k) Settlement

    Lawyers for Magna International workers will take home nearly a million dollars in attorney fees as part of a $2.9 million class settlement over allegedly flawed investment options and fees in the company's employee retirement plan, after a Michigan federal judge signed off on the fees Monday. 

  2. August 28, 2024

    Auto Parts Co. Secures Initial OK For $2.9M 401(k) Deal

    A Michigan federal judge gave an initial green light Wednesday to a $2.9 million agreement to resolve a class action accusing auto parts manufacturer Magna International of failing to remove flawed investment options from its retirement plan and costing workers millions of dollars in retirement savings.

  3. August 02, 2024

    Auto Parts Co. To Pay $2.9M To End 401(k) Class Action

    Auto parts manufacturer Magna International agreed to pay $2.9 million to end a class action alleging it cost employees millions of dollars in retirement savings because it failed to remove flawed investment options from its retirement plan, workers told a Michigan federal court.

  4. May 06, 2024

    Auto Parts Co. Strikes Deal To End Suit Over $1.6B 401(k) Plan

    Auto parts supplier Magna International agreed to settle a class action covering about 20,000 workers who claimed to have lost millions in retirement savings because the company failed to cut underperforming and costly investments from their $1.6 billion retirement plan.

  5. January 26, 2024

    On 2nd Try, Magna Workers Nab Class Status In ERISA Suit

    A Michigan federal judge certified a class of an estimated 20,000 workers in a suit accusing auto parts supplier Magna International of mismanaging their $1.6 billion retirement plan, after the class replaced its first set of proposed representatives.

  6. June 05, 2023

    Auto Parts Co. Must Face ERISA Suit Over 401(k) Management

    An auto parts supplier can't avoid a lawsuit alleging its more than $1 billion 401(k) plan was saddled with excessive fees, a Michigan federal judge ruled Monday, finding the former workers leading the proposed class action provided reasons to doubt whether the company properly monitored the plan.

  7. May 17, 2023

    ERISA Class Gets Chance To Replace 'Poorly Suited' Plaintiffs

    A Michigan federal judge allowed a proposed class alleging auto parts supplier Magna International saddled its retirement plan with excessive fees to add four new named plaintiffs after calling the original leads "poorly suited," but told the group to determine if they are qualified to be class representatives.

  8. March 27, 2023

    'Poorly Suited' Magna ERISA Plaintiffs Can't Lead Class

    A Michigan federal judge on Monday denied certification of a proposed class alleging auto parts supplier Magna International mismanaged its retirement fund, saying the named representatives' past criminal convictions and lack of knowledge about the case undermine their ability to represent the class.

  9. March 07, 2023

    Judge Slams 'Poorly Suited' Plaintiffs' Bid To Lead Magna Suit

    A Michigan federal judge on Tuesday sharply criticized a proposed class's bid to appoint representatives with histories of dishonesty in a suit accusing auto parts supplier Magna International of mismanaging its retirement plan, calling them the most "poorly suited" people to represent a class that she's ever seen.

  10. March 04, 2022

    Car Parts Co. Workers Seek Class Status In 401(k) Suit

    Magna International workers accusing the auto parts supplier of charging excessive fees for its $1 billion retirement plan asked a Michigan federal court to certify a class of over 26,000 plan participants, saying they were all similarly affected by the costly, poorly managed plan.