Long-Term Care: Litigation Update. After CalPERS withdrew from the initial settlement, there has been little public chatter on the status of settlement discussions in the Wedding class action lawsuit. Should these discussions not yield a viable settlement, the lawsuit is now scheduled for trial in May 2023.
However, until the attorneys for the plaintiff or CalPERS release an official statement on progress, or lack of progress, in negotiations there is little value in speculating on possible outcomes. CalPERS does caution that “if you should cancel your policy, it may adversely affect your ability to participate in, or the recovery you may receive from, any future settlement or judgement….” CalPERS also notes that if you opted out of the initial settlement, you are still part of the current legal action. “Since the Settlement is not going forward, that election no longer applies, and will not affect any ability you may have to participate in any future settlement or judgement in the case.”