MetLife agreed last week to pay $50 million to settle a class action claim that it had defrauded 8.6 million policy holders when it converted from a mutual company in 2000 to one that is publicly traded.
The settlement, which was reached after an Eastern District jury had been selected, was only a fraction of the $8 billion sought by the class (See Notice of Class Action Settlement).
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Not a Bloomberg Law Subscriber?
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]