Contacts
Sprenger
& Lang, PLLC |
Miller
- O'Brien, PLLP |
|
INTRODUCTION On June 16, 2002, Judge Henry Kennedy granted final approval to a settlement reached by the 17 named Plaintiffs and Defendant American Express Financial Advisors, Inc. and affiliated entities (“AEFA”) in a nationwide class action lawsuit alleging gender and related discrimination in employment. The case is entitled Kosen et al. v. AEFA et al filed in the United States District Court for the District of Columbia and designated by Case Number 1:02CV00082 (HHK). Judge Kennedy's Order settles the case and provides a variety of relief on behalf of the Plaintiffs and members of two settlement classes. Members of one of the classes who file timely claim forms may receive monetary awards.
As part of the settlement, AEFA agreed to pay into a settlement fund a total of thirty-one million
dollars. As the Notice of Settlement explains in greater detail, Class
Members were entitled to receive a monetary award from the fund, and could be entitled
to other relief under the settlement. You are a Class Member if you are: A woman who was employed by or otherwise affiliated with AEFA as a financial advisor at any time between December 8, 1998 and March 20, 2002. If you do not fit within this definition, you are not a member of the settlement class entitled to monetary relief and are not eligible to receive a monetary award. The deadline for submitting Claim Forms passed on June 14, 2002. On November 30, 2002, the Court approved a distribution formula and distribution of the claims portion of the fund. Distribution is nearly complete. Members of this class who filed Claim Forms and are current P1 or P2
advisors also may qualify for awards from the Business Development Portion
of the settlement fund. The settlement creates a second class, defined
as: Women who applied to become employed by or otherwise affiliated with AEFA as a financial advisor at any time between December 8, 1998 and February 19, 2002. Members of this class, except for the two named Plaintiffs who were members of this class, will not receive monetary awards. However, the settlement includes provisions addressing the hiring process, and class members (other than the two named Plaintiffs) retain the right to bring legal action for any monetary relief to which they believe they are entitled LEGAL AND SETTLEMENT DOCUMENTS The lawyers for the parties
filed a large number of documents in connection with the initiation of this
action and the approval of the lawsuit. To
obtain a copy of some of the principal documents, click on the corresponding
buttons below. These documents are: Consent
Decree: the agreement
between the parties setting out the terms of the settlement; Business Development Claim Form: the document that class members who are current financial advisors must complete to receive moneys from the Business Development Portion of the settlement fund. Agreement
and General Release: the
document class members must sign in order to receive a monetary award that
releases their claims against AEFA; Mailed
Notice of Settlement: the
document describing the terms of the settlement which was mailed on March 29,
2002 to all class
members who served as AEFA financial advisors between December 8, 1998 and
February 19, 2002; and Administrative
Order No. 1: setting forth
the provisions for administering the settlement fund. Order approving class settlement Judge's findings of fact and conclusions of law Order appointing a Special Master Special Master Final Order re Davenport There was no opposition to approval of the settlement at the hearing on June 6, 2002. The notices of the settlement provided to class members advised them of their right to object to the settlement or to exclude themselves from the monetary relief provisions. No class members objected to the settlement, and fewer than two dozen opted out of its provisions. CLASS
COUNSEL The Plaintiffs and class members are represented by lawyers for two firms, Sprenger & Lang, PLLC and Miller-O’Brien, PLLP. You may click on the firm name to be linked to the firm’s website. |