In the course of the litigation, Class Counsel on behalf of plaintiffs successfully certified a Class, defeated a motion for summary judgment, conducted extensive discovery, and engaged in protracted settlement negotiations.  On March 27, 2007, the court approved a partial settlement agreement with all Defendants other than the Heritage Fund, which provided for a benefit increase for beneficiaries of participant class members who have died or will die on or after December 1, 2002.  A settlement agreement between the Plaintiffs and the Heritage Fund was approved by the court on December 4, 2008, which requires the payment of $6.1 million (net of expense) from the Heritage Fund into the ILGWU Death Benefit Fund.  Implementation of the settlement agreements was held in abeyance pending an appeal which was dismissed on July 7, 2009.  As a result of the settlement agreements, participants will receive a benefit increase of more than $900 with the possibility of larger increases in the future.  In addition, a class trustee has been appointed by the court to take office as one of the Fund’s trustees.

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