Published: November 01, 2010
FOMOCO ERISA Settlement Administrator Announces Preliminary Court Approval of Proposed Class Action Settlement on Behalf of Settling Parties
DETROIT - (BUSINESS WIRE) - The FOMOCO ERISA Settlement Administrator announces to all members of
the following Class: All current or former participants in or
beneficiaries of the Ford Motor Company Savings and Stock Investment
Plan for Salaried Employees and the Ford Motor Company Tax-Efficient
Savings Plan for Hourly Employees (which are collectively referred to
herein as the "Plans" ), whose individual Plan account(s) included
investments in Ford Motor Company ("Ford" ) stock at any time during the
period April 15, 2000 and August 27, 2010, inclusive (the "Class
Period" ) and all beneficiaries, alternate payees, representatives, and
successors-in-interest of any such person (collectively, the "Settlement
Class" ).
Please read this Notice carefully. This is a Court-ordered legal notice,
not a solicitation.
A proposed Settlement has been preliminarily approved by the United
States District Court for the Eastern District of Michigan ("the Court" )
in In re Ford Motor Company ERISA Litigation, Consolidated Master
Case No. 06-cv-11718, a class action lawsuit alleging breaches of
fiduciary duties under the Employee Retirement Income Security Act of
1974, as amended ("ERISA" ), in connection with the Plans identified
above. The terms of the Settlement are contained in a Stipulation and
Agreement of Settlement, dated August 27, 2010 (the "Stipulation" ), a
copy of which is available at www.ERISAsettlementfomoco.com
or by contacting FOMOCO ERISA Settlement Administrator, PO Box 3266,
Portland, OR 97208-3266. Capitalized terms used in this Notice and not
defined herein have the meanings assigned to them in the Stipulation.
Under the proposed Settlement, Ford has agreed to implement remedial
provisions to enhance the ability of Class Members to save for
retirement. Specifically, Ford will make online financial advice tools
or materials (or their equivalent) available to Class Members for a
four-year period beginning on the date the online financial advice tools
or materials are implemented. For a period of four years following Final
Approval of the Settlement, Ford will enhance participant communications
to Active Participants, and arrange third-party fiduciary training for
Ford's Investment Process Oversight Committee and Investment Process
Committee. Ford will also, within ninety days of the Effective Date of
Settlement, provide a notice to Active Participants whose Plan
investment in Ford stock at that time exceeds 20% of their total Plan
holdings concerning the importance of maintaining diversified
investments.
Additionally, if Ford elects in its discretion to offer an employee
match under the Ford Motor Company Savings and Stock Investment Plan for
Salaried Employees ("SSIP" ) during the three-year period following the
Final Approval of Settlement such a match will be (a) provided in cash;
and (b) invested in any applicable investment option under the SSIP
designated by the Active Participant or, if no investment option has
been designated, then in the applicable default investment option.
Members of the Settlement Class do not need to submit a claim or take
any other action unless they wish to object to the Settlement. The Court
authorized this Notice. The Court will hold a hearing at 2:00 p.m. on
February 15, 2011 to decide whether to approve the Settlement.
Additional information concerning the proposed Settlement (including the
Notice of Class Action Settlement which explains how Class Members can
object to the Settlement and the Stipulation) is available at www.ERISAsettlementfomoco.com.
In addition, a toll-free number, (877) 483-2918, and email address, Questions@ERISAsettlementfomoco.com,
have been established to assist in answering questions regarding the
settlement. You may also contact FOMOCO ERISA Settlement Administrator
at:
FOMOCO ERISA Settlement Administrator
PO Box 3266
Portland, OR 97208-3266

Press Only:
Ford Motor Company
Marcey Evans, Corporate News
Manager, 313-322-9211
http://www.ERISAsettlementfomoco.com
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