Judge OKs $28M Insurance Suit Settlement

Law360, New York (September 5, 2007, 12:00 AM EDT) -- A federal judge has given the green light to a $28 million deal that will lay to rest claims against Arthur J. Gallagher & Co. in a dual-pronged antitrust class action accusing a group of insurers and brokers of conspiring to eliminate competition and reap supra-competitive prices.

In court documents filed Tuesday in the U.S. District Court for the District of New Jersey, Judge Garrett E. Brown, Jr. approved the settlement, brokered in December, saying it was “fair, reasonable and adequate” and “in the best interests...
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