MetLife Escapes Investors' Annuity Reserve Fraud Claims

Law360 (January 12, 2021, 5:50 PM EST) -- Insurance giant MetLife and some of its former executives no longer face a proposed securities class action alleging they defrauded investors concerning accounting for its retirement and income solution line of business, a federal judge in Brooklyn said Monday.

In an order Monday, U.S. District Judge Sterling Johnson Jr. dismissed with prejudice a suit brought against MetLife, its retired former chief executive Steven A. Kandarian and the company's former executive vice president and chief financial officer John C.R. Hele. Judge Johnson found that in the latest version of the action, lead plaintiff Labourers' Pension Fund of Central and Eastern Canada had...

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