Mont. Fails To Upend $545M Farmers Settlement

Law360, Los Angeles (September 7, 2011, 7:17 PM EDT) -- A California judge on Wednesday rejected a move by the state of Montana to challenge a $545 million settlement in a class action alleging Farmers Group Inc. breached its fiduciary duties and violated unfair competition laws by overcharging policyholders for management fees.

Judge William F. Highberger denied Montana’s motion to intervene in the case more than 6 months after he granted preliminary approval to the blockbuster settlement, but said the state could file amicus curiae briefs and also take a second shot at intervening.

“I’m willing...
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