Hartford Reaches $72.5M Deal In Annuity RICO Suit

Law360, New York (June 4, 2010, 10:56 AM EDT) -- The Hartford Financial Services Group Inc. has reached a $72.5 million settlement with a class of plaintiffs alleging the company violated the Racketeer Influenced and Corrupt Organizations Act by unfairly charging fees for structured settlement annuities.

The settlement, which the plaintiffs reported to the U.S. District Court for the District of Connecticut, came several months after a federal appeals court denied Hartford's appeal of the class' certification.

A spokesman for Hartford declined to comment on the settlement. Counsel for the plaintiffs could not be reached for...
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