DaVita Settles ERISA Class Action for $2,000,000

If you were a participant in the DaVita Retirement Savings Plan from March 23, 2016, through July 1, 2024, you may be eligible to claim an award from a class action settlement.

DaVita Inc. has agreed to pay $2,000,000 to settle a class action lawsuit for alleged breaches of fiduciary duties under ERISA.

Who can submit a claim?

The class members eligible to submit a claim include all persons who participated in the DaVita Retirement Savings Plan at any time from March 23, 2016, to July 1, 2024.

This also includes any beneficiary of a deceased person who participated in the Plan during this period and any alternate payee of a person subject to a Qualified Domestic Relations Order who participated in the Plan during this period.

• Current Participants: Those who have a positive account balance in the Plan as of the date the Final Entitlement Amounts are calculated.
• Former Participants: Those who had an account balance at the beginning of the Class Period but liquidated their account before June 30, 2024.

How much can class members get?

The amount each class member can claim will be calculated based on their account balances during the Class Period. The Net Settlement Amount, which is the Gross Settlement Amount minus any taxes, court-approved costs, fees, and expenses, will be allocated among class members.

The calculation involves summing each class member's quarterly account balances from March 23, 2016, through June 30, 2024. This sum is referred to as the class member's 'Balance.' The Net Settlement Amount will then be distributed in proportion to each class member's Balance compared to the total Balance for all class members.

• Current Participants: The Final Entitlement Amount will be deposited into their Plan account unless the account is closed before the distribution.
• Former Participants: Those entitled to a distribution of more than $2.50 will receive their payment directly by check from the Settlement Administrator.

For example, if the Net Settlement Amount is $1,500,000 and the total Balance for all class members is $30,000,000, a class member with a Balance of $30,000 would receive 0.1% of the Net Settlement Amount, which is $1,500.

Is proof required to submit a claim?

Proof is not applicable. The Settlement Administrator already has the necessary information to determine each class member's entitlement.

How to claim an award

To claim an award, you do not need to file a claim proactively. The Settlement Administrator will calculate the Final Entitlement Amounts based on the Plan's records.

$2,000,000 Settlement Fund

The settlement fund of $2,000,000 will cover:

• Payment of any taxes
• Court-approved attorneys' fees and litigation expenses
• Case Contribution Awards to the Named Plaintiffs
• Costs of administering the Settlement

The remaining amount, known as the Net Settlement Amount, will be distributed to the class members.

Important dates

• Fairness Hearing: December 4, 2024
• Deadline to File a Claim: Not applicable as claims are calculated automatically

When is the DaVita ERISA Settlement payout date?

The awards will be paid after the Settlement receives final approval and any appeals are resolved.

Why is there a class action settlement?

The class action lawsuit was filed because the Named Plaintiffs alleged that DaVita Inc. breached its fiduciary duties under ERISA by failing to reduce the Plan's expenses and not exercising appropriate judgment in scrutinizing each investment option offered in the Plan.

What happens next?

The next steps include the Court's final approval of the Settlement and the distribution of the Net Settlement Amount to the class members. If you are a class member, ensure your contact information is up to date and wait for further instructions from the Settlement Administrator.