Military Families Slam Prudential Over Life Insurance

Law360, New York (July 30, 2010, 1:11 PM EDT) -- Prudential Insurance Co. of America is facing a class action alleging it withheld interest on life insurance payouts to military families, a suit filed the same day New York Attorney General Andrew Cuomo said he subpoenaed the company as part of a new investigation into the alleged scheme.

The lawsuit was filed Thursday in the U.S. District Court for the District of Massachusetts, alleging that Prudential only paid military families 1 percent interest on the unpaid balance of their life insurance benefits when in fact it...
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