Nationwide Settles Overcharge Suit For $6M

Law360, New York (April 16, 2009, 12:00 AM EDT) -- Nationwide Life Insurance Co. has reached a $6 million settlement in an Ohio class action that accused the firm of overcharging for certain life insurance policies.

Nationwide spokesman Dan Orzano confirmed the settlement Friday, but said as part of the settlement all parties had agreed not to talk publicly. Attorneys for the plaintiffs confirmed that Friday, also declining to comment. Any objections to the preliminary settlement must be filed by April 27.

The lawsuit was first filed in February 2005, alleging that Nationwide breached its term...
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