Taylor v. McKelvey (Monster Worldwide ERISA Litigation) Website

The information below is only a short summary. For additional information, click here to download a copy of the Notice of Class Action Settlement (the “Notice”) or call the Monster Worldwide ERISA Litigation Settlement Helpline at 800-983-6133 to request a copy of the Notice by mail.

YOU ARE NOT REQUIRED TO DO ANYTHING.	If the Settlement is approved by the Court and you are a member of the Settlement Class, you will not need to do anything to receive a payment (if any). The portion, if any, of the Settlement Fund to be allocated to your Plan account will be calculated as part of the implementation of the Settlement.
NO ACTION IS NECESSARY TO RECEIVE A PAYMENT.	If you are currently participating in the Plan and are a member of the Settlement Class, any share of the Net Proceeds to which you are entitled will be deposited into your Plan account. If you no longer are a Plan participant but are a member of the Settlement Class, any share of the Net Proceeds to which you are entitled will be deposited in a Plan account that will be established for you, if necessary, and you will be notified of such account.
YOU MAY OBJECT TO THE SETTLEMENT BY JANUARY 11, 2010.	If you wish to object to any part of the Settlement, you may (as discussed below) write to the Court and counsel about why you object to the Settlement.
YOU MAY ATTEND THE FAIRNESS HEARING TO BE HELD ON JANUARY 26, 2010.	If you submit a written objection to the Settlement to the Court and counsel before the Court-approved deadline, you may (but do not have to) attend the Court hearing about the Settlement and present your objections to the Court. You may attend the Hearing even if you do not file a written objection, but you will only be allowed to speak at the Hearing if you file a written objection in advance of the Hearing.

These rights and options—and the deadlines to exercise them—are explained in this Notice.
The Court still has to decide whether to approve the Settlement. Payments will be made only if the Court approves the Settlement and that approval is upheld in the event of any appeal.

As fully described in the Notice the Settlement Class consists of:

All persons, excluding Defendants and Dismissed Defendants, who were participants in or beneficiaries of the Monster Worldwide, Inc. 401(k) Savings Plan (the “Plan”) at any time during the period from January 1, 2000, through and including September 14, 2009, and whose accounts included investments in Monster common stock or units in the Monster Stock Fund (the “Settlement Class”).

GENERAL OVERVIEW

U.S. District Court Judge Alvin K. Hellerstein of the United States District Court for the Southern District of New York (the “Court”) has preliminarily approved a proposed settlement (the “Settlement”) of a class action lawsuit brought under the Employee Retirement Income Security Act of 1974 (ERISA). The Settlement will provide for payments to the Plan and for allocation of those payments to the accounts of members of the Settlement Class who had portions of their Plan accounts invested in Monster Worldwide, Inc. (“Monster”), common stock or units in the Monster Stock Fund. The Settlement also provides for payment of legal fees and expenses in an amount to be fixed by the Court. The Settlement is summarized below.

The Court has scheduled a hearing to consider Named Plaintiffs’ Motion for Final Approval of the Settlement and Class Counsel’s application for attorneys’ fees and expenses and for case contribution awards to the Named Plaintiffs (the “Fairness Hearing”). The Fairness Hearing will consider the fairness of the Settlement and of the proposed legal fees and expenses. That hearing has been scheduled for January 26, 2010, at 4:00 p.m. in the courtroom of Judge Alvin K. Hellerstein, United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007.

Any objections to the Settlement or the application for attorneys’ fees and expenses or for case contribution awards to the Named Plaintiffs must be filed with the Court and served in writing on proposed Class Counsel for the Settlement Class, identified on Page 3 of this Notice of Class Action Settlement (“Notice”), and on Monster’s Counsel, who are identified on Page 10 of this Notice. The procedure for objecting is described below.

This Notice contains summary information with respect to the Settlement. The terms and conditions of the Settlement are set forth in a Class Action Settlement Agreement (“Settlement Agreement” or “Agreement”). Capitalized terms used in this Notice but not defined in this Notice have the meanings assigned to them in the Agreement. The Agreement, as well as additional information with respect to this lawsuit and the Settlement, is available by clicking here.

PLEASE READ THE NOTICE CAREFULLY AND COMPLETELY. IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, THE SETTLEMENT WILL AFFECT YOUR RIGHTS. YOU ARE NOT BEING SUED IN THIS MATTER. YOU DO NOT HAVE TO APPEAR IN COURT, AND YOU DO NOT HAVE TO HIRE AN ATTORNEY IN THIS CASE. IF YOU ARE IN FAVOR OF THE SETTLEMENT, YOU NEED NOT DO ANYTHING. IF YOU DISAPPROVE, YOU MAY OBJECT TO THE SETTLEMENT BY FOLLOWING THE PROCEDURES DESCRIBED IN THE ANSWER TO QUESTION 13 OF THE NOTICE, AVAILABLE FOR DOWNLOAD BY CLICKING HERE.

Additional documents regarding the case are also available for download on this site by clicking here.

If you have questions, you may call the Monster Worldwide ERISA Litigation Settlement Helpline at 800-983-6133 or send an email to info@MonsterERISASettlement.com.