Schissler v Janus Henderson US (Holdings) Inc | ERISA Settlement
If you were a participant in the Janus 401(k) and Employee Stock Ownership Plan (the “Plan”) who invested in Janus Funds at any time from September 9, 2016, to May 4, 2026, you are part of a class action settlement.
IMPORTANT – PLEASE READ THE NOTICE CAREFULLY
THE NOTICE RELATES TO A CLASS ACTION LAWSUIT AND, IF YOU ARE A SETTLEMENT CLASS MEMBER, CONTAINS IMPORTANT INFORMATION ABOUT YOUR RIGHTS TO OBJECT TO THE SETTLEMENT
A Federal Court authorized the Notice. You are not being sued.
This is not a solicitation from a lawyer.
• A Settlement has been reached in a class action lawsuit against Janus Henderson US (Holdings) Inc., and the Janus Henderson Advisory Committee (together, “Defendants”). The class action lawsuit involves whether Defendants violated their fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) in managing the Plan. Defendants deny all claims, and nothing in the Settlement is an admission or concession on Defendants’ part of any fault or liability whatsoever.
• You are included as a Class Member if you were a participant in the Plan who invested in Janus Funds at any time from September 9, 2016, to May 4, 2026 (the “Class Period”).
• The terms and conditions of the Settlement are set forth in the Settlement Agreement dated April 28, 2026. Capitalized terms not defined in this Settlement Notice have the meanings assigned to them in the Settlement Agreement. The Settlement Agreement is available HERE. Certain other documents also will be posted on this website. You should visit this website if you would like more information about the Settlement or the lawsuit. All papers filed in this lawsuit are also available for review via the Public Access to Court Electronic Records System (PACER), at https://www.pacer.gov.
• The Settlement provides, among other things, for a payment of $6,500,000 into a settlement fund. Class Members will receive a pro rata share of the amount of the settlement fund remaining after payment of Administrative Expenses, any Attorneys’ Fees and Costs that the Court awards to Class Counsel, and any Service Awards that the Court awards to the Named Plaintiffs. The amount of each Class member’s payment is based on a Plan of Allocation that takes into account each Class Member’s investment in the Janus Funds over the period of September 9, 2016, through May 4, 2026. Class Members with a positive balance (an “Active Account”) in the Plan on May 4, 2026 (referred to herein as “Current Participants”) will automatically receive allocations directly to their Plan accounts so long as they maintain a positive balance through the time Settlement monies are distributed. Current Participants who had an Active Account as of May 4, 2026 but who are determined to no longer have an Active Account at the time Settlement monies are distributed, will receive a check. Class Members who did not have an Active Account as of May 4, 2026 (referred to herein as “Former Participants”) may submit a Former Participant Rollover Form to receive their allocation in the form of a rollover to another retirement account. A Former Participant who does not submit a rollover form will receive their distribution via check.
• Your rights and options — and the deadlines to exercise them — are explained in the Settlement Notice.
• The Court still has to decide whether to give its final approval to the Settlement. Payments under the Settlement will be made only if the Court finally approves the Settlement and that final approval is upheld in the event of any appeal.
• A Fairness Hearing will take place on September 4, 2026, at 11:00 a.m., before the Honorable Raymond P. Moore at the Alfred A. Arraj Courthouse, 901 19th Street, Denver, CO 80294, in Courtroom A201, to determine whether to grant final approval of the Settlement and approve the requested Attorneys’ Fees, Costs, Administrative Expenses, and Named Plaintiffs’ Service Awards.
• Any objections to the Settlement, or to the requested Attorneys’ Fees, Costs, Administrative Expenses, or Named Plaintiffs’ Service Awards, must be served in writing on Class Counsel and Defendants’ counsel, as identified on pages 6-7 of the Settlement Notice.
| YOUR LEGAL RIGHTS AND OPTIONS UNDER THE SETTLEMENT AS A FORMER PARTICIPANT: | |
| Our Records Indicate You Are A FORMER Participant. You Must Mail A Rollover Form Postmarked On Or Before AUGUST 20, 2026 to receive a settlement payment via rollover | Our records indicate that you are a Former Participant. You must mail a Former Participant Rollover Form postmarked on or before August 20, 2026 to receive a share of the Net Settlement Amount via rollover. If you do not mail the Former Participant Rollover Form by the above deadline, you will receive your distribution via check. |
| You Can Object (No Later Than AUGUST 7, 2026) | If you wish to object to any part of the Settlement, or to the requested Attorneys’ Fees, Costs, Administrative Expenses, or Named Plaintiffs’ Service Awards, you must write to Class Counsel and Defendants’ counsel (as identified on pages 6-7 below) about why you object. |
| You Can Attend A Hearing on SEPTEMBER 4, 2026 | You may also attend the Fairness Hearing and speak at the Fairness Hearing on September 4, 2026. You may attend the hearing and speak at the hearing without filing a notice of your intention to appear, but you will not be permitted to make an objection if you do not comply with the requirements for making objections. |
| YOUR LEGAL RIGHTS AND OPTIONS UNDER THE SETTLEMENT AS A CURRENT PARTICIPANT: | |
| Our Records Indicate You Are A Current Participant. You Will Need To Contact the Settlement Administrator if This Is Not Correct. | Our records indicate that you are a Current Participant. You do not need to do anything to receive your share of the Net Settlement Amount. If, however, you are a “Former Participant” who did not have an Active Account in the Plan as of May 4, 2026, or are the beneficiary or alternate payee of a Former Participant, then you should contact the Settlement Administrator to update your information and, if you choose, to submit a Former Participant Rollover Form to have your share of the settlement deposited in a rollover account. If you are a Former Participant and you do not submit a Former Participant Rollover Form, you will receive your distribution via check. If you believe you are a Former Participant, a rollover form may be obtained by calling the Settlement Administrator at 1-800-577-5039 or by accessing www.jhuserisasettlement.com. |
| You Can Object (No Later Than August 7, 2026) | If you wish to object to any part of the Settlement, or to the requested Attorneys’ Fees, Costs, Administrative Expenses, or Named Plaintiffs’ Service Awards, you must write to Class Counsel and Defendants’ counsel (as identified on page 7 of the Settlement Notice) about why you object. |
| You Can Attend A Hearing on September 4, 2026 | You may also attend the Fairness Hearing and speak at the Fairness Hearing on September 4, 2026. You may attend the hearing and speak at the hearing without filing a notice of your intention to appear, but you will not be permitted to make an objection if you do not comply with the requirements for making objections. |
The Class Action
The case is called Schissler, et al. v. Janus Henderson US (Holdings) Inc., et al., Case No. 1:22-cv-02326-RM-SBP (D. Colo.) (the “Class Action” or “lawsuit”). The lawsuit was filed on September 9, 2022. The Court supervising the case is the U.S. District Court for the District of Colorado. The individuals who brought this lawsuit are called Named Plaintiffs, and the persons they sued are called Defendants. The Named Plaintiffs, Sandra Schissler, Karly Sissel, and Derek Hittson, were participants in the Plan. The Defendants are Janus Henderson US (Holdings) Inc. (“Janus”), and the Janus Henderson Advisory Committee (“Committee”). The Named Plaintiffs’ claims are described below, and additional information about them is available HERE.
The Settlement
Following negotiations between Parties, a Settlement has been reached. As part of the Settlement, a Qualified Settlement Fund of $6,500,000 will be established to resolve the Class Action. The Net Settlement Amount is $6,500,000 minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Named Plaintiffs’ Service Awards. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court. The proposed Plan of Allocation is described in the Settlement Agreement.
Statement Of Attorneys’ Fees, Costs, and Named Plaintiffs’ Service Awards Sought in the Class Action
Class Counsel has devoted many hours to investigating the facts, prosecuting the lawsuit, reviewing documents obtained from Defendants, and negotiating the Settlement. During that time, they also have advanced costs necessary to pursue the case. Class Counsel took the risk of litigation and have not been paid for any of their time or costs while this case has been pending.
Class Counsel will apply to the Court for payment of Attorneys’ Fees for their work in the case. The amount of fees that Class Counsel will request will not exceed one-third of the Qualified Settlement Fund ($6,500,000). In addition, Class Counsel will also seek to recover the costs and administrative expenses associated with the settlement. Any Attorneys’ Fees, Costs, and Administrative Expenses awarded by the Court will be paid from the Qualified Settlement Fund.
Class Counsel also will ask the Court to approve payments, not to exceed $15,000, for each of the Named Plaintiffs who took on the risk of litigation and committed to spend the time necessary to bring the case to conclusion. Their activities also included assisting in the factual investigation of the case by Class Counsel, producing documents, being deposed under oath, and giving overall support to the case. Any Named Plaintiffs’ Service Awards awarded by the Court will be paid from the Qualified Settlement Fund.
A full and formal application for Attorneys’ Fees, Costs, Administrative Expenses, and Named Plaintiffs’ Service Awards will be filed with the Court on or before July 17, 2026. This application will be made available at www.jhuserisasettlement.com. You may also obtain a copy of this application through the Public Access to Court Electronic Records System (PACER) at https://www.pacer.gov.