A Settlement Agreement has been reached in a lawsuit against Investors Bancorp, Inc. d/b/a Investors Bank alleging it failed to pay Class Members for all hours, including overtime hours, spent performing branch opening procedures.

If you received a Settlement Notice it is because according to Investors Bank’s records, you worked at Investors Bank in a “Covered Position” (i.e., current or former Teller, Assistant Branch Manager-I NE, Assistant Branch Manager-II NE, Asst Customer Service Associate Supervisor, Customer Service Associate Supervisor, Customer Service Associate-I, Customer Service Associate-II, Floater Customer Service Supervisor, Part-Time Customer Service Associate-I, Part-Time Customer Service Associate-II, Part-Time Customer Personal Banker-II, Part-Time Personal Banker-III, Personal Banker-I, Personal Banker-II, Personal Banker-III, or Universal Banker) responsible for opening the branch on any given day in New Jersey at some point between October 16, 2017 through October 18, 2021 or in New York at some point between June 1, 2016 through October 18, 2021 (the “Covered Period”)(collectively, “Class Members").

A Settlement Agreement has been reached in a lawsuit against Investors Bancorp, Inc. d/b/a Investors Bank. The individuals who have filed or joined this case were formerly employed by and sued Investors Bank alleging it failed to pay them and Class Members for all hours, including overtime hours, spent performing branch opening procedures. Investors Bank denies the allegations in the lawsuit and asserts all Class Members were properly compensated at all times.

Recognizing the risks and expenses associated with litigation, the Parties have agreed to settle this case. The Court has not made any rulings about the merits of the claims made in the case. However, the Court has reviewed and granted Final Approval to the Settlement and the Notice.

In a class action lawsuit, one or more people called “Named Plaintiffs” or “Class Representatives” (in this case, Maria Kirkman and Luis Ruiz) sue on behalf of other people who they believe have similar claims. All these people are a “Class” or “Class Members.”

A court resolves the issues for all Class Members, except for those who exclude themselves from the Class. Judge James B Clark III is the judge presiding over this class action lawsuit. On June 5, 2023, Judge Clark certified this case to proceed as a class action and notice was sent to all Class Members with an opportunity to opt out of the class action. Everyone who did not opt out by the Opt-out deadline is still a Class Member. On February 7, 2024, Judge Clark granted Final Approval to the Settlement Agreement. Payments were sent to all Class Members March 28, 2024.

The Court did not decide in favor of Plaintiffs or Investors Bank.  Recognizing the risks and expenses associated with litigation, the Parties have agreed to settle this case. The Court has not made any rulings about the merits of the claims made in the case. However, the Court has reviewed and approved the Settlement Agreement and Class Notice.

If you received a Settlement Notice by email and/or mail, it is because according to Investors Bank’s records you were listed as eligible for this Settlement. 

There are two subclasses certified within this lawsuit - The New York Class, and the New Jersey Class.

The New Jersey Class covers any current or former Teller, Assistant Branch Manager-I NE, Assistant Branch Manager-II NE, Assistant Customer Service Associate Supervisor, Customer Service Associate Supervisor, Customer Service Associate-I, Customer Service Associate-II, Floater Customer Service Supervisor, Part-Time Customer Service Associate-I, Part-Time Customer Service Associate-II, Part-Time Customer Personal Banker-II, Part-Time Personal Banker-III, Personal Banker-I, Personal Banker-II, Personal Banker-III, or Universal Banker responsible for opening the branch on any given day in New Jersey at some point between October 16, 2017 through October 18, 2021.

The New York Class covers any current or former Teller, Assistant Branch Manager-I NE, Assistant Branch Manager-II NE, Assistant Customer Service Associate Supervisor, Customer Service Associate Supervisor, Customer Service Associate-I, Customer Service Associate-II, Floater Customer Service Supervisor, Part-Time Customer Service Associate-I, Part-Time Customer Service Associate-II, Part-Time Customer Personal Banker-II, Part-Time Personal Banker-III, Personal Banker-I, Personal Banker-II, Personal Banker-III, or Universal Banker responsible for opening the branch on any given day in New York at some point between June 1, 2016 through October 18, 2021.

You are covered by this Settlement if you fall under one of these definitions and do not exclude yourself from the Settlement.

The Settlement also resolves alleged claims for penalties under the Fair Labor Standards Act (“FLSA”), which covers all individuals which covers all individuals in both sub-classes.

If you received a Settlement Notice by email and/or by mail, it is because according to Investors Bank’s records you were listed as eligible for this Settlement. If you still have questions regarding your eligibility, you can contact the Settlement Administrator by email at Info@KirkmanvInvestorsBank.com or by telephone at 1-888-256-6148. 

Your legal rights and options in this Settlement are as follows:

You may DO NOTHING. If you have not otherwise excluded yourself from the settlement by timely submitting a written Opt-Out Statement, you will automatically be included in the settlement and remain in the Class, release your claims, and receive money automatically in the form of a payment mailed to you.

You may have EXCLUDED YOURSELF to get out of the Lawsuit. Doing this means you were not eligible receive any money from the Settlement. However, you keep any rights you might have to file your own separate lawsuit for the same claims at your own expense. See Section six (6) of the Settlement Notice or FAQ 16 for more information.

You may have OBJECTED OR COMMENTED on the Settlement. With this option you would stay in the Lawsuit, get a payment, but your comments and concerns would be heard by the Court. See Section seven (7) of the Settlement Notice or FAQ 19 for more information.

If you were a Class Member and did nothing, you automatically received payment to which you are entitled under the Settlement and released your claims against Investors Bank.

If you did not exclude yourself by timely submitting a written Opt-Out Statement to the Claims Administrator, you fully release and discharge Investors Bank and all its affiliates, partners, subsidiaries, divisions, and/or other related entities, and all of its and their incumbent and former officers, directors, owners, shareholders, investors, agents, attorneys, fiduciaries, employees, successors, assigns and representatives, including but not limited to Citizens Bank, N.A. (“Defendant”), from any and all claims, rights, demands, liabilities, and causes of action of every nature and description, whether known or unknown, under federal state law for failure to pay for hours worked and overtime wages related to opening Investors Bank branches (including time before the branch opened), as well as liquidated damages and attorneys’ fees and costs related to such claims, through October 18, 2021.

If you excluded yourself from the settlement by timely submitting a written Opt-Out Statement to the Claims Administrator, as further detailed in your Notice, you retain your rights to bring your own cases against Investors Bank for the aforementioned claims.

Investors Bank has agreed to pay a maximum of $3,330,000.00 (the “Settlement Payment”) to settle this case. The settlement will provide payments to around 1,800 Class Members.

The settlement also provides payment for service awards totaling $17,500.00 to the two named plaintiffs who filed this case publicly, assisted in the investigation and litigation of the lawsuit, and assisted in the preparation for and outcome of the mediation that led to this settlement; attorneys’ fees of up to one-third of the Settlement Payment ($1,100,000.00) plus costs of no more than $42,000.00; $64,080.85 for the fees of the Claims Administrator to facilitate this settlement; and any employment-related taxes and deductions from the gross amounts paid to each Class Member who does not opt-out of the Settlement (“Qualified Class Member”).

The funds allocated to Qualified Class Members who fail timely negotiate their Settlement Award checks will be donated Local Initiative Support Corporation “LISC, NYC” a not for profit organization that helps forge resilient and inclusive communities of opportunity across America.

To qualify for a payment from the Settlement, Class Members did not need to do anything. Class Members automatically received a payment in the form of a check mailed to them unless they excluded themselves from the settlement.

The Settlement Administrator was provided with the most recent known address for each Class Member to mail Settlement checks. If you would like to confirm that the correct address is on file, or if you have moved since you last worked at Investors Bank, please update your address with the Settlement Administrator.

The Court held a hearing on February 7, 2024, to decide whether to approve the settlement. After careful review, the Court granted approval to the Settlement. Payments were mailed on March 28, 2024. If you believe you are a Class member and you have not received your check by April 11, 2024, please contact the Settlement Administrator to have your award reissued.  For More information, please see FAQ 15. 

If you did not otherwise exclude yourself from the Settlement by timely submitting a written Opt-Out Statement to the Claims Administrator, you will receive your Settlement Award, which is subject to deductions for applicable taxes and withholding like any other paycheck, and for which you will receive an IRS Form W-2.

The gross amount you receive from the Net Settlement Payment is based on the proportion of the number of workweeks during which you worked in a Covered Position during the Covered Period (“Eligible Workweeks”) out of the total number of all Qualified Class Members’ Eligible Workweeks. Your specific benefit estimate amount was listed in the Notice that was sent to you. 

The formal settlement agreement executed by the Parties and preliminarily approved by the Court (the “Settlement Agreement”) details the allocation formula for determining your share of the Net Settlement Amount. 

Please note that the amount of your Individual Award may vary slightly from this estimate you were previously provided, based on several factors, including the number of Class Members who excluded themselves, the amount of fees and costs approved by the Court, and necessary tax withholdings. Award amounts are not appealable and cannot be changed. Additionally, Settlement Award checks that are not cashed within 120 days of issuance will be null and void. The funds from awards not timely negotiated will be donated Local Initiative Support Corporation “LISC, NYC” a not for profit organization that helps forge resilient and inclusive communities of opportunity across America.

Per the Settlement Agreement (section 3.5.A) One Hundred percent (100%) of each Settlement Share (the “Wage Portion”) is intended to settle each Participating Class Member’s claims for unpaid wages. Accordingly, the Award checks will be reduced by applicable payroll tax withholding and deductions, and the Settlement Administrator will issue to each Participating Class Member a Form W-2.

The W-2s tax forms were included in the envelope with Class Member Settlement Award Checks.

You may request your award be reissued to you. However, requests cannot be processed over the phone. Please send the Settlement Administrator your written request to either Info@KirkmanvInvestorsBank.com or to the Settlement’s mailing address.

In your request please include:

•             Your address (if you have moved, please provide your address of current record as well as any updated address information you may have)

•             Your full name

•             A specific line requesting your award be reissued.

Once your written request is received, a stop payment will be placed on your most recent active check. In the meantime, if you receive that prior check, do not attempt to cash it, as it will have been stopped, will not clear, and you may suffer bank penalties from the rejected check.

Please note that reissue requests will take approximately 2-3 weeks to process. You should receive the new award soon after that.

If you wanted to opt out of the Settlement, you must have timely submitted an Opt-Out Statement by January 29, 2024. This deadline has now passed.

If you are a Settlement Class Member, unless you excluded yourself, you give up the right to sue Investors Bank for the claims that this Settlement resolves. If you have a pending lawsuit regarding the claims at issue in this case, speak to your lawyer immediately.

If you excluded yourself, you will not receive money from this Settlement. However, you may sue, or continue to sue, in a different lawsuit against Investors Bank, at your own expense.

If you did not opt out of the Settlement, you had the right to object to it. To object to the Settlement, you must have sent an email to the Claims Administrator by no later than the deadline listed in your Notice. The deadline to submit an Objection has passed.

Objecting is telling the Court you think there is something you dislike or otherwise an issue with the Settlement Agreement, and you are asking the Court not to approve it. You can object only if you are a Qualified Class Member. Opting out is telling the Court you do not want to be a Qualified Class Member. If you exclude yourself, you have no basis to object, because the case no longer affects you.

The Court has appointed the following law firm as Class Counsel to represent the Class: Swartz Swidler, LLC. This law firm is called “Class Counsel.”  If you want to be represented by your own lawyer, you may hire one at your own expense.

The mailing address for Swartz Swidler, LLC is:

Swartz Swidler, LLC
9 Tanner Street
Suite 101
Haddonfield, NJ 08033

The lawyers for this case are: Justin L. Swidler and Matthew D. Miller. Their telephone number is: 1-856-685-7420. Their email address is: mmiller@swartz-legal.com.

You do not need to hire your own lawyer because Class Counsel are working on your behalf and you do not need to do anything to receive benefits under the Settlement. If you want your own lawyer, you may hire one, but you will be responsible for any payment for that lawyer’s services.

The Court has decided the lawyers at Swartz Swidler, LLC are qualified to represent you and fellow Qualified Class Members. These lawyers are “Class Counsel.” You will not be charged out-of-pocket for these lawyers’ work because their fees and costs will be paid from the Settlement Payment as approved by the Court. These fees will compensate Class Counsel for the time they incurred investigating the facts, litigating the case, and negotiating the settlement.

Class Counsel also asked the Court to approve payment for their out-of-pocket costs. You do not need to retain your own attorney to participate in this settlement. If you wish to assert an objection, Class Counsel will not represent you in asserting the objection. You may, but do not have to, retain your own attorney to assert the objection.

A final Fairness Hearing before the Court was held on February 7, 2024. The purpose of the Final Fairness Hearing was for the Court to determine if the Settlement Agreement is fair, adequate, and reasonable, and if it should be approved by the Court. The Court took into account any Objections submitted. After careful review, the Court granted approval to the Settlement.

You did not have to come to the Fairness Hearing. Class Counsel answered any questions the Court had.

PLEASE DO NOT CONTACT THE COURT. You should direct any questions you may have about the Notice or the Settlement Agreement to us, the Settlement Administrator and/or to Class Counsel.

Your Notice summarizes the settlement as it applies to you. More details can be found in the Settlement Agreement. You are encouraged to read it. To the extent there is any inconsistency between the Notice and the Settlement Agreement, the Settlement Agreement controls. You may obtain a copy of the Settlement Agreement by submitting a request, in writing, to the Claims Administrator at:

Investors Bank Settlement
c/o JND Legal Administration
PO Box 91345
Seattle, WA 98111
Phone: (888) 256-6148
Email: Info@KirkmanvInvestorsBank.com

Otherwise, if you have other questions about the settlement, you can contact Class Counsel, your lawyers, whose contact information is:

You do not need to hire your own lawyer because Class Counsel listed below is working on your behalf. However, if you want your own lawyer, you are free to hire one at your own expense.

Class Counsel:
Justin L. Swidler
Matthew D. Miller
Swartz Swidler, LLC
9 Tanner Street, Suite 101
Haddonfield, NJ 08033
Website: www.Swartz-Legal.com
Telephone: (856) 685-7420
Fax: (856) 685-7417
Toll Free: (877) 529-9501
E-Mail: MMiller@Swartz-Legal.com

In addition to contacting the Settlement Administrator, you may also contact Class Counsel with questions.  You may also seek the advice and counsel of your own attorney at your own expense, if you desire.

Investors Bank provided the Settlement Administrator with your most recent address based on its corporate records in order to mail your Notice and Settlement Award. If you have moved since you last worked for Investors Bank, or are still a current employee with Investors Bank and have moved recently, please provide the Settlement Administrator with your current mailing address by either mailing or emailing a letter requesting your information be updated. Please be sure to provide your initial address of record, as well as your updated address information. This is necessary to ensure the proper record is being updated.

Investors Bank provided the Settlement Administrator with the most recent name it had based on its corporate records.

If your name has changed, please provide the Settlement Administrator in writing, by either mail or email, a copy of your government-issued ID and a copy of the legal document showing the name change (marriage license, divorce decree, etc.).

If your name has a spelling error and needs to be corrected, please provide a copy of your government-issued ID.