Former CareFirst CEO Sues For Severance Pay

Law360, New York (August 13, 2008, 12:00 AM EDT) -- Former CareFirst BlueCross BlueShield CEO William L. Jews launched a suit Monday against Maryland’s insurance commissioner to reclaim $9 million in severance after the commissioner halved his payout.

Jews lodged the action in the U.S. District Court for the District of Maryland, claiming the decision by Ralph S. Tyler, commissioner of the Maryland Insurance Administration, to cut the $18 million severance package in half was unconstitutional.

While the commissioner acted under a 2003 law limiting executive pay, his actions are prohibited by the Employee Retirement Security...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.