December 05, 2023
A Pennsylvania federal judge denied a private equity firm’s late bid to opt out of a nearly $110 million class action settlement over a life insurance company’s rate hikes, finding that accepting the firm’s bid, submitted six weeks after the opt-out deadline, would “render class action settlement opt-out deadlines meaningless.”
October 06, 2023
Owners of more than 50,000 Lincoln National Corp. life insurance policies will split a pool of $109 million to settle claims that Lincoln imposed burdensome cost-of-insurance charges to force policy lapses and avoid paying benefits, a Pennsylvania federal court ruled.