The Order of the U.S. District Court which approved the certification of class participants and the beneficiaries and approved the proposed settlement was appealed to the United States Fifth Circuit Court of Appeals in New Orleans, Louisiana and argued to an appeals court panel. A ruling by the Court of Appeals is pending and is expected any day
A stay of litigation of the state court and federal court claims is in effect pending a decision by the Court of Appeals. The U.S District Court Opinion and Final Judgement may be viewed in the litigation documents.
The approval or reversal of the Mississippi District Court’s Order by the Fifth Circuit Court of Appeals could have far reaching and a tremendous impact on how the management and perhaps existence of the pension plan in the near future.
If the settlement is approved, management of the plan and trust will focus upon the management of the investments, administrative functions of the plan and trust, settlement and payment requirements and amendment to the plan provisions to protect the assets and obtain the best benefit payment for participants.
I will continue to pursue recovery of monies for the plan and trust from any party who may be liable for damages under the law.
If the settlement and class certification is reversed by the Court of Appeals, the state and federal court litigation against Singing River Health System, Jackson County and others, would presumably resume. Speculation as to how SRHS, Jackson County and others would respond would be just that: speculation, conjecture and guess work and serves no purpose or benefit to anyone at this point.