Bristol-Myers Insured Employees Without Consent, Suit Says

Law360, Los Angeles (November 26, 2013, 5:44 PM EST) -- The widow of a Bristol-Myers Squibb Co. employee filed a putative class action against the company Tuesday, accusing it of taking out a $6 million insurance policy against her husband without his knowledge or consent.

Bristol-Myers Squibb Co. did not have a legitimate reason to take out such an “astonishing” policy on employee Bruce Simmons, whose death was not worth $6 million to the company, the suit said.

“Bristol-Myers did not have an insurable interest in Bruce Simmons’ life,” the complaint said. “Bristol-Myers could not have...
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