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Ramirez v. J.C. Penney Corporation, Inc.

Case No.: 6:14-cv-00601-RWS-KNM

United States District Court Judge Robert W. Schroeder III, of the United States District Court for the Eastern District of Texas, Tyler Division (the "Court") has preliminarily approved a settlement (the "Settlement") of a class action lawsuit (the "Action") brought under the Employee Retirement Income Security Act of 1974 ("ERISA"). The Settlement generally provides for payments to individuals who were participants in or beneficiaries of the J. C. Penney Corporation, Inc. Savings, Profit Sharing and Stock Ownership Plan (the “Plan”) at any time from November 1, 2011 through May 31, 2016 and whose plan accounts included investments in the J. C. Penney common stock fund.

The Settlement consideration is a gross sum of Four Million Five Hundred Thousand Dollars ($4,500,000.00) (the "Gross Settlement Fund"). The Gross Settlement Fund, after payment of any taxes, expenses, approved attorneys’ fees and costs and a Case Contribution Award to the Named Plaintiffs (after deductions, the "Net Settlement Fund"), will be allocated to Settlement Class members according to a Plan of Allocation to be approved by the Court.

Settlement Administrator
Ramirez v J.C. Penney Corp ERISA
Class Action Administrator
c/o Rust Consulting, Inc. - 5514
PO Box 2572
Faribault, MN 55021-9572
Toll Free: 1 (866) 646-7319
Email: administrator@jcperisaclassaction.com

Class Counsel
Jacob H. Zamansky
Samuel E. Bonderoff
ZAMANSKY LLC
50 Broadway, 32nd Floor
New York, NY 10004
Telephone: (212) 742-1414
Email: jake@zamansky.com; samuel@zamansky.com

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Disclaimer

Settlement Administrator
Ramirez v J.C. Penney Corp ERISA
Class Action Administrator
c/o Rust Consulting, Inc. - 5514
PO Box 2572
Faribault, MN 55021-9572
Toll Free: 1 (866) 646-7319
Email: administrator@jcperisaclassaction.com

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