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TMCNet:  The Law Firms of Bottini & Bottini, Inc. and Gainey & McKenna Announce a Proposed Class Action Settlement on Behalf of ING Americas Savings Plan and ESOP and the ING 401(k) Plan for ILIAC Agents

[February 14, 2013]

The Law Firms of Bottini & Bottini, Inc. and Gainey & McKenna Announce a Proposed Class Action Settlement on Behalf of ING Americas Savings Plan and ESOP and the ING 401(k) Plan for ILIAC Agents

ATLANTA --(Business Wire)--

The following was released today by Bottini & Bottini, Inc. and Gainey & McKenna:

The Law Firms of:

Bottini & Bottini, Inc.
Gainey & McKenna

Announce a Proposed Class Action Settlement on behalf of ING Americas Savings Plan and ESOP and the ING 401(k) Plan for ILIAC Agents.

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF GEORGIA
ATLANTA DIVISION




 

IN RE ING GROEP, N.V.

ERISA LITIGATION

)

)

) MASTER FILE NO.

) 1:09-CV-00400-JEC

THIS DOCUMENT RELATES TO:

All Actions

)

)

)

)

SUMMARY NOTICE OF CLASS ACTION SETTLEMENT

To: All persons who were participants in or beneficiaries of the ING Americas Savings Plan and ESOP and the ING 401(k) Plan for ILIAC Agents (together, the "Plans") at any time during the period starting on June 1, 2007, through November 5, 2012 (the "Relevant Period"), and whose accounts included investments in American Depository Shares of ING Groep, N.V. traded on the New York Stock Exchange ("ING Stock"); and as to each such person, his, her, or its beneficiaries, heirs, agents, executors, administrators, alternate payees (including spouses of deceased persons who were participants of the Plans), and successors-in-interest (the "Settlement Class").

A proposed settlement (the "Settlement") has been preliminarily approved by the United States District Court for the Northern District of Georgia (the "Court") in a class action alleging breaches of fiduciary duties under the Employee Retirement Income Security Act of 1974, as amended, codified as 29 U.S.C. § 1000 et seq. ("ERISA") in connection with the Plans. This Settlement will provide for a payment of $3,500,000 to the Settlement Fund. Upon final approval, the Settlement Fund, less Court-approved attorneys' fees, expenses, and incentive awards to Named Plaintiffs, and other costs as the Court may allow, will be divided among Settlement Class members pursuant to a Plan of Allocation.

On May 21, 2013, a Fairness Hearing will be held before the Honorable Julie E. Carnes, United States District Judge, in Courtroom 2107, at the Richard B. Russell United States Courthouse, 75 Spring Street SW, Atlanta, Georgia 30303, to decide whether to grant final approval of the Settlement.

If you are a Settlement Class member, you have the right to object to the Settlement by writing to the Court postmarked on or before May 7, 2013, but you do not have the right to exclude yourself from the Settlement.

If you did not receive a copy of the Notice of Class Action Settlement by mail, but you believe that you are a member of the Settlement Class as defined above, you may access the Notice through INGErisaSettlement.com. You may also request a copy of the Notice, free of charge, by calling 866-778-9469 or contacting one of the following law firms representing Plaintiffs and the Settlement Class:

Francis A. Bottini Jr., Esq.
Albert Y. Chang, Esq.
BOTTINI & BOTTINI, INC.
7817 Ivanhoe Avenue, Suite 102
La Jolla, CA (News - Alert) 92037
 
- or -
 
Thomas J. McKenna, Esq.
GAINEY & MCKENNA
440 Park Avenue South, 5th Floor
New York, NY 10016

Copies of the Settlement Agreement, and additional information regarding the Settlement, are available at INGErisaSettlement.com. Please do not direct your inquiries about the Settlement to the Defendants, the Court or the Clerk of the Court.

DATED: February 14, 2013

BY ORDER OF COURT

SOURCE:
BOTTINI & BOTTINI
GAINEY & MCKENNA


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