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Final OK Sought For $2M Deal In ACE Securities MDL

Law360 (June 1, 2009, 12:00 AM EDT) -- Plaintiffs have sought final court approval of a nearly $2 million settlement in multidistrict class action securities litigation accusing insurer ACE Ltd. of failing to disclose its participation in contingent commission kickbacks and bid-rigging schemes.

Lead plaintiffs the Sheet Metal Workers' National Pension Fund and the Alaska Ironworkers Pension Trust filed a motion in the U.S. District Court for the Eastern District of Pennsylvania on Friday seeking final approval of the settlement and plan of allocation of settlement proceeds.

Shareholders were left in the dark while...
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