Insurance Broker Resolves $4M ERISA Feud With Comerica

Law360, New York (February 28, 2012, 8:24 PM EST) -- An insurance broker and Comerica Bank, acting as a trustee for Delta Air Lines Inc. retirees, on Tuesday settled a $4 million lawsuit in Georgia accusing the broker of collecting excessive commissions and breaching fiduciary duties under the Employee Retirement Income Security Act.

A Georgia federal judge dismissed the suit after being informed of the settlement, but said the parties could reopen the case if the settlement is not concluded. The deal comes more than a month after the judge rejected Comerica's motion for summary judgment....
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