Oasis 401(k) Settlement
A lawsuit alleging that certain ERISA obligations were not met with respect to our 401(k) plan has been filed on August 17, 2018. We dispute the claims made in the lawsuit, and no court has found any wrongdoing. However, to avoid the expense of protracted litigation we have agreed to settle the case, subject to the court’s approval.
Neither the lawsuit nor the settlement puts any of our clients or plan participants at legal or financial risk. Also, the financial stability of the plan and of Oasis are not affected by the lawsuit or settlement.
We are committed to providing the best possible 401(k) plan. Our focus has always been, and remains, fulfilling the trust placed in us by our clients and plan participants.