John Hancock Broke Contract With Energy Manager, Suit Says
Law360 (August 19, 2019, 2:15 PM EDT) -- John Hancock Life Insurance Co. (USA) improperly ended an agreement with its renewable energy investment manager in an attempt to take control of the process itself, according to a lawsuit filed Friday by Verto Management LLC in the Business Litigation Session of Boston's Suffolk Superior Court.
The entity now known as Verto was an in-house division of John Hancock until 2017, when the insurance company decided to break away from that segment of its business and struck a deal to partner with Verto for at least four years. But last month, Verto said, John Hancock fired it "out of the blue...
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