Williams Companies ERISA Litigation

The In re Williams Companies ERISA Litigation Complaint was filed in the United States District Court for the Northern District of Oklahoma on behalf of Plaintiffs and a class (the "Class") of all persons who were participants in or beneficiaries of The Williams Companies, Inc. Investment Plus Plan (the "Plan”), for whose individual accounts the Plan held shares of Williams Companies stock (WMB) or Williams Communications Group stock (WCG), at any time between July 24, 2000 and December 12, 2002 (the "Class Period").

Approval of $55 Million Cash Settlement Plus Equitable Relief

On November 16, 2005, the Court held a Fairness Hearing and Approved The Settlement of this case and entered its Order and Final Judgment, Order Approving Plan of Allocation and Order Awarding Attorneys' Fees, Reimbursement of Expenses and Named Plantiffs' Awards. In settlement of this case, the Defendants have agreed to pay $55 million in cash, plus equitable relief in the form of a covenant that Williams will not take any action to amend the Plan: to (i) reduce the employer match thereunder below four (4) percent prior to January 1, 2011; or (ii) require that the employer match be restricted in Company stock prior to January 1, 2011.

You do not need to submit a claim form or any documentation.

For detailed information concerning the settlement, please click here.

Case Documents