Ex-MassMutual Head Wins $50M

Law360, New York (October 23, 2006, 12:00 AM EDT) -- An arbitration decision that Massachusetts Mutual Financial Group unjustly gave its chief executive the boot last year could force the insurance and investment company to shell out as much as $50 million in financial compensation.

The confidential ruling, handed down last month, was made public on Saturday after MassMutual launched an appeal of the decision in Massachusetts Superior Court.

On Sept. 22, a three-person arbitration panel upheld claims by Robert J. O’Connell that his June 2005 termination—which came amid allegations of extramarital affairs with female employees,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.