MassMutual Suffers Setback In Battle With Ex-CEO

Law360, New York (January 3, 2007, 12:00 AM EST) -- In a blow to MassMutual Financial Group, a Boston judge has sided with an arbitration panel in finding that the financial giant unfairly dismissed its chief executive officer and now owes him an estimated $50 million in back pay and benefits.

On Tuesday, Suffolk Superior Court Judge Allan van Gestel tossed a lawsuit brought by MassMututal, which had been seeking to overturn an earlier arbitration ruling that favored ousted CEO Robert O’Connell.

O'Connell was originally fired by MassMutual's board of directors in June 2005 amid a...
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