Hartford Settles Investors' Kickback Suit For $3.9M

Law360, New York (September 18, 2009, 3:30 PM EDT) -- Plaintiffs in a shareholder class action against insurer Hartford Financial Services Group Inc. over kickbacks it allegedly paid to insurance brokers have asked a district court for preliminary approval of a $3.85 million settlement.

In a motion filed Thursday in the U.S. District Court for the District of Connecticut, the plaintiffs said the settlement, along with a proposed class notice, should get preliminary approval because the deal was fair and negotiated at arm's length.

“Lead counsel submit that the proposed settlement reflects concessions by the parties...
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