Schaf & Scarber, et al. v O-I Glass, Inc. and Owens-Illinois Employee Benefits Committee

UNITED STATES DISTICT COURT
FOR THE NORTHERN DISTRICT OF OHIO

The Fairness Hearing has been set for August 15, 2024 at 2:00 p.m. Eastern Time before The Honorable Jack Zouhary via Zoom. Anyone wishing to attend the Fairness Hearing may contact Chambers (419-213-5675) for the Zoom invitation.

If you participated in the Owens-Illinois Long-Term Savings Plan or the Owens-Illinois Stock Purchase and Savings Program at any time from July 22, 2016 to March 5, 2024, you are part of a class action Settlement.

IMPORTANT
PLEASE READ THE NOTICE CAREFULLY
THIS NOTICE RELATES TO THE PENDENCY OF 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 O-I Glass, Inc. and Owens-Illinois Employee Benefits Committee, (together, “Defendants”). The class action lawsuit involves whether or not Defendants violated their fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) in managing the Plans. 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 participated in the Owens-Illinois Long-Term Savings Plan or the Owens-Illinois Stock Purchase and Savings Program (the “Plans”) at any time from July 22, 2016 to March 5, 2024 (the “Class Period”).

• The terms and conditions of the Settlement are set forth in the Settlement Agreement dated February 23, 2024, and are summarized below. Capitalized terms used in this Notice but not defined in this Notice have the meanings assigned to them in the Settlement Agreement. The Settlement Agreement is available at HERE. Certain other documents will also be posted . All papers filed in this lawsuit are also available for review via the Public Access to Court Electronic Records System (PACER), at www.pacer.gov.

• Under the Settlement, Defendants have agreed to pay $5,000,000.00 into a Settlement Fund. Class Members are eligible to 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 account balances over the period of July 22, 2016 through March 5, 2024. Payments to Class Members who had a Plan account with a balance greater than $0.00 as of March 31, 2024 (referred to herein as “Current Participant Class Members”) will be automatically deposited into their respective Plan accounts. Class Members who no longer had an account balance above $0.00 as of March 31, 2024 (referred to herein as “Former Participant Class Members”) must return a Former Participant Claim Form in order to receive a payment, which may be made directly by check, unless the Former Participant Class Member elects to receive their payment through a rollover to a qualified retirement account. No payments will be made to any Class Member whose settlement amount is less than $10.00. Current Participant Class Members who are determined to no longer have a Plan account with a balance greater than $0.00 as of the date of their Settlement payments will be treated as Former Participant Class Members and will receive an allocation by check. 

• Please read the Notice carefully. Your rights and the choices available to you — and the applicable deadlines to act — are explained in your Notice. Your legal rights are affected whether you act or not. Please note that neither O-I Glass, Inc., nor any O-I Glass, Inc. affiliate, nor any of their employees or representatives may advise you as to what the best choice is for you or how you should proceed.

• The Court still has to decide whether to give its Final Approval to the Settlement. A Fairness Hearing has been scheduled for August 15, 2024 at 2:00 p.m. Eastern Time before the Court in Courtroom 203 of the James M. Ashley and Thomas W.L. Ashley U.S. Courthouse, 1716 Spielbusch Avenue, Toledo, Ohio. 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.

THE TABLE CONTAINS ONLY A SUMMARY OF YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IF YOU ARE A FORMER PARTICIPANT, YOU MUST MAIL A CLAIM FORM POSTMARKED ON OR BEFORE JULY 25, 2024 TO
RECEIVE ANY MONIES FROM THE SETTLEMENT.		You must complete, sign, and mail a Former Participant Claim Form by July 25, 2024. You will receive payment by check unless you elect to receive your payment through a rollover to a qualified retirement account on the Claim Form HERE. Former Plan Participants who fail to complete, sign, and mail their Former Participant Claim Form will not receive a Settlement distribution. Regardless of whether you submit a Claim Form, you will give up your rights to sue Defendants about the allegations in this case.

Former Participants will receive payment by check unless a rollover to a qualified retirement account is elected on the Claim Form. If you believe you are a Former Participant Class Member, a Former Participant Claim Form HERE.
DO NOTHINGIf you do not complete, sign, and mail your Former Participant Claim Form, you will not receive the share of the Settlement benefits to which you are entitled and will give up your rights to sue Defendants about the allegations in this case.
OBJECT BY JULY 16, 2024If you wish to object to any part of the Settlement, you must file an objection with the Clerk of Court and provide copies to Class Counsel and Defense Counsel to explain why you object.
ATTEND A HEARINGYou may also attend the Fairness Hearing and speak at the
Fairness Hearing on August 15, 2024. If you wish to speak at the hearing you must file and serve a notice of intent to appear within the time frame for filing an objection above. You will not be permitted to make an objection if you do not comply with the requirements for making objections.