Bentley & More achieves a more than $720 Million Class Action Settlement (Holly Wedding, et al. v. California Public Employees’ Retirement System, et al., LASC Case No. BC517444)

Bentley & More achieves a more than $720 Million Class Action Settlement (Holly Wedding, et al. v. California Public Employees’ Retirement System, et al., LASC Case No. BC517444)

Bentley & More attorneys Greg Bentley, Matt Clark, and Clare Lucich, class co-counsel with three other consumer advocate firms, achieved a more than $720 million class action settlement in the action entitled Holly Wedding, et al. v. California Public Employees’ Retirement System, et al., LASC Case No. BC517444.  The long-running case concerns the actions of the CalPERS Long Term Care Program, which despite years of promises that premiums would remain steady and stable, implemented a targeted 85% premium increase in 2015/2016 on tens of thousands of CalPERS Long Term Care policyholders.

Following ten years of hard-fought litigation, including dozens of depositions, dispositive motions, two phases of trial, and all expert discovery, the matter finally reached resolution on behalf of approximately 80,000 policyholders consisting of refunds and payments to policyholders, a moratorium on premium increases, as well as fees, costs, and administration expenses.