MassMutual Can't Duck Policyholder Suit Over Dividends

Law360, New York (August 27, 2013, 9:55 PM EDT) -- A Massachusetts federal judge on Tuesday refused to toss a putative class action alleging Massachusetts Mutual Life Insurance Co. shorted policyholders on dividends, saying it was too early in the litigation to resolve factual questions over alleged accounting errors.

U.S. District Judge Joseph L. Tauro ruled that the correct calculation of the value of MassMutual's “safety fund” presents a question of fact and that he could not dismiss as a matter of law plaintiff Karen Bacchi's claims that the insurer has miscalculated that value every year...
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.