A California federal judge rejected a $5.75 million wage settlement between American Life Insurance Co. and a group of insurance-sales agents and trainees, after class objectors successfully argued that the deal favored the agents over the trainees.
It’s not equitable or fair for the agents to receive more than half the value of the settlement when the trainees’ claims are stronger, easier to prove, and more valuable, Judge Thomas Hixon of the U.S District Court for the Northern District of California court said Thursday. The court declined to grant final approval of the deal.
The settlement would resolve three separate ...
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