Eastern District of New York Judge Jack B. Weinstein has approved a combined $50 million settlement in two class actions that had accused the Metropolitan Life Insurance Co. of making false claims to shareholders in 2000 as part of the company's attempt to privatize. Under the agreement, MetLife will pay $32.5 million to a health-related non-profit group, $2.5 million to the National Institutes of Health and a total of $15 million to about two dozen attorneys.
March 05, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Eastern District of New York Judge Jack B. Weinstein has approved a combined $50 million settlement in two class actions that had accused the Metropolitan Life Insurance Co. of making false claims to shareholders in 2000 as part of the company’s attempt to privatize.
Under the agreement, MetLife will pay $32.5 million to a yet-to-be-named health-related non-profit organization, $2.5 million to the National Institutes of Health and a total of $15 million to about two dozen attorneys.
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