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Joseph J. Mezyk, et al., Individually, and On Behalf of All Those v. U.S. Bank Pension Plan and U.S. Bancorp

IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF ILLINOIS


July 16, 2012

JOSEPH J. MEZYK, ET AL., INDIVIDUALLY, AND ON BEHALF OF ALL THOSE SIMILARLY SITUATED, PLAINTIFFS,
v.
U.S. BANK PENSION PLAN AND U.S. BANCORP, INC., DEFENDANTS. THOMAS L. PELLETT, ET AL., INDIVIDUALLY, AND ON BEHALF OF ALL OTHERS SIMILARLY SITUATED, PLAINTIFFS,
v.
U.S. BANK PENSION PLAN, DEFENDANT.

If You Were in the Mercantile Bancorporation Retirement Plan on January 1, 1999, You Could Get A Payment From This Class Action Settlement

A proposed Settlement of a class action lawsuit entitled Mezyk v. U.S. Bank Pension Plan and Pellett v. U.S. Bank Pension Plan ("the Lawsuit") has been reached. The United States District Court for the Southern District of Illinois (the "Court") has given preliminary approval to the Settlement.

Your cash award under the Settlement is likely to be more than $1,000.

The Settlement will resolve all claims in this Lawsuit. A Final Approval Hearing to address the fairness, adequacy, and reasonableness of the Settlement will be held on November 2, 2012. You are not required to do anything to receive your cash award. However, you may object to the settlement by following the procedures described below.

PLEASE READ THIS NOTICE CAREFULLY.

PURPOSE OF THIS NOTICE

The Court has ordered that this notice be sent to you because records show you participated in the Mercantile Bancorporation Inc. Retirement Plan ("Mercantile Plan") when the Mercantile Plan changed on January 1, 1999. You are a class member in this Lawsuit. This notice is to (a) briefly describe the Lawsuit; (b) define the class members; (c) tell you your rights and options; and (d) tell you the main terms of the Settlement.

(A) THE LAWSUIT

The Lawsuit began nearly five years ago when Plaintiffs sued U.S. Bank Pension Plan and U.S. Bancorp, Inc. ("Defendants") over the changes in the Mercantile Plan that happened on January 1, 1999. The Lawsuit alleges the Mercantile Plan did not give proper notice of the changes (the "Notice Claim"). It also alleges that, for participants who were age 45 to 49 when their opening retirement account cash balances were calculated, the Mercantile Plan did not calculate the cash balances properly when the plan changed (the "Calculation Claim"). Because of bank mergers, the Defendants have taken over responsibility for the Mercantile Plan. The Lawsuit was filed in the United States District Court for the Southern District of Illinois. After more than five years of litigation, Defendants have agreed to settle the lawsuit. This does not mean they have done anything wrong. The parties have agreed to the Settlement to avoid the uncertainty, delay and expense of further litigation.

The Court has preliminarily approved the Settlement. The Court will decide whether to give final approval to the Settlement at a Final Approval Hearing set for November 2, 2012, at 1:30 p.m.at the United States District Court, Southern District of Illinois, Courtroom of Honorable J. Phil Gilbert, 301 West Main Street, Benton, Illinois, 62812.

(B) CLASS MEMBERS

This case involves two Classes. You are a member of Class 1 if you participated in the Mercantile Plan on January 1, 1999. Class 1 is pursuing the Notice Claim. You are also a member of Class 2 if you participated in the Mercantile Plan on January 1, 1999, and were age 45 to 49 when your opening cash balance was calculated. Class 2 is pursuing the Calculation Claim. Both classes are represented by attorneys ("Class Counsel"). You do not have to pay them any fees or costs.

(C) YOUR OPTIONS

As a Class member, you have three options:

1. If you want to get your cash award, you do not need to do anything. You will automatically get your cash award if the Court approves the Settlement.

2. If you are against the Settlement, you may object to it. You may object in writing on all or part of the Settlement. The Court will consider your objection when it decides whether to approve the Settlement.

3. If you have something to say about the Settlement, you may comment on it.

You may comment in writing on all or part of the Settlement. The Court will consider your comment when it decides whether to approve the Settlement.

If you submit an objection or a comment, you may also speak at the Final Approval Hearing. If you want to speak at the hearing, you must say so in your objection or comment. If you do not submit an objection or comment in writing, you may not speak at the hearing. You can hire your own attorney to appear in the Lawsuit for you. If you do, you will have to pay your attorney yourself.

You do not have to come to the Final Approval Hearing or file an objection or comment. You may do both. At the Final Approval Hearing, the Court will decide whether the Settlement is fair, adequate and reasonable. It will look at the plan for giving out the money the Defendants have agreed to pay, the larger cash awards that will be given to some people because they helped with the Lawsuit, and the amounts of money Class Counsel is asking for. The Final Approval Hearing will be held on November 2, 2012, at 1:30 p.m. in the United States District Court, Southern District of Illinois, Courtroom of Honorable J. Phil Gilbert, 301 West Main Street, Benton, Illinois, 62812. The Final Approval Hearing date may be changed without letting you know. If you file an objection or comment, Class Counsel will let you know if the date changes. You may also contact Class Counsel to make sure of the hearing date and time. If you do not submit an objection by September 10, 2012, you will not be allowed to object later to anything about the Settlement. The Court will assume you agree with the Settlement. If you object and the Court approves the Settlement anyway, you will be able to appeal the Settlement to a court of appeals.

If the Court approves the Settlement and no class member appeals, the Lawsuit will stop. You should receive your payment in early 2013. You will be bound by the Settlement, and you will not be able to sue U.S. Bank Pension Plan or U.S. Bancorp for any claim in the Lawsuit or for any claim that could have been brought in the Lawsuit, whether you know about that claim now or not.

If the Court approves the Settlement and a class member appeals, payment may be delayed by several years and may not happen at all. If the court of appeals approves the Settlement, you will receive your payment, you will be bound by the Settlement, and you will not be able to sue U.S. Bank Pension Plan or U.S. Bancorp for any claim in the Lawsuit or for any claim that could have been brought in the Lawsuit, whether you know about that claim now or not. If the court of appeals thinks the Settlement is not fair, adequate and reasonable, there will no payment, and the Lawsuit will go on.

If the Court does not approve the Settlement, you will get no payment and the Lawsuit will go on.

If the Settlement is approved, your payment will be mailed to you at the address where this notice was sent. If you no longer live at this address, send your new address to:

Notice Administrator

Garden City Group, Inc.

P.O. Box 9349

Dublin, Ohio 43017

You will be bound by the terms of the Settlement. You will not be able to sue U.S. Bank Pension Plan or U.S. Bancorp for any claim in the Lawsuit or for any claim that could have been brought in the Lawsuit, whether you know about that claim now or not.

To submit an objection or comment:

a. write "Mezyk, et. al. v. U.S. Bank Pension Plan, 3:09-cv-384-JPG-DGW" at the top of the first page,

b. give your full name, address, and phone numbers,

c. state your objection or comment,

d. indicate whether you or your attorney will appear at the Final Approval Hearing, and

e. sign the paper

You may also attach any other papers to support your objection or comment. You must mail your objection or comment to the Notice Administrator at:

Notice Administrator

Garden City Group, Inc.

P.O. Box 9349

Dublin, Ohio 43017 The Notice Administrator will then make sure your objection or comment is filed with the Court.

(D) SUMMARY OF MAIN TERMS OF THE SETTLEMENT

1. Settlement Fund: The Defendants have agreed to pay Nine Million, Six Hundred Thousand Dollars ($9,600,000.00) into a Settlement Fund. This amount will be divided between the members of Class 1, the members of Class 2, and Class Counsel for their fees and the costs of the Lawsuit.

2. Attorney's Fees: Class Counsel will ask the Court for fees of up to 27.5% of the Settlement Fund: two million, six hundred forty thousand dollars ($2,640,000.00). Class Counsel will also ask to be paid for the money they spent on the Lawsuit. The Court will decide how much to award to Class Counsel. Those fees and costs will come from the Settlement Fund.

3. Special Cash Awards to Class Representatives: Joseph J. Mezyk, Mary P. Mulqueeny, Doris L. Carthy, Peggy B. Raymond, Shirley Chatman, Thomas L. Pellett, and Richard A. Williams, the seven people named as Plaintiffs in the Lawsuit, will each receive five thousand dollars ($5,000.00) in addition to any other award they get. This is to compensate them for the time and effort they spent helping with the Lawsuit.

4. Cash Award to Members of Class 2: If you are a member of Class 2, you will receive the difference between your actual opening cash balance when the Mercantile Plan changed on January 1, 1999, and what the Plaintiffs think your opening cash balance should have been, plus interest.

5. Cash Award to Members of Class 1: Class 1 will receive whatever is left in the Settlement Fund after Class Counsel and members of Class 2 are paid and after the special awards are paid to the class representatives. That amount will be divided equally among all members of Class 1. Each member of Class 1 should receive approximately one thousand, two hundred dollars ($1,200.00).

6. Giving Up Class Members' Right to Sue: All the claims in the Lawsuit will be dismissed with prejudice. This means that you can never again bring those claims in court. You will also not be able to sue for any claim that could have been brought in this Lawsuit, whether you know about the claim now or not.

Other Information

This notice only summarizes the Lawsuit and the Settlement. For more information, you may look at the Court files at the Office of the Clerk of Court, United States Courthouse, 301 W. Main Street, Benton, Illinois, from 9:00 a.m. to 4:30 p.m., Monday through Friday. You may contact Class Counsel if you have any questions. You can reach them at:

David L. Steelman Matthew Armstrong 901 N. Pine Street, Suite 110 8816 Manchester Rd., No. 109 Rolla, MO 65401 St. Louis, MO 63144 telephone: (573) 341-8336 telephone: (314) 258-0212.

They will be able to provide you a complete copy of the Settlement. If you are a member of Class 2, they will also be able to give you an exact amount of your award for the Calculation Claim. You may also contact your own attorney, but you will have to pay for your attorney yourself.

THE COURT CANNOT GIVE YOU LEGAL ADVICE. PLEASE DO NOT CALL OR WRITE THE COURT WITH QUESTIONS ABOUT THIS NOTICE.

20120716

© 1992-2012 VersusLaw Inc.



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