John Hancock Rebuffed in Bid to Expand Foreign Tax Credit Suit

John Hancock Life Insurance Co. lost its bid to pull a financial adviser into litigation over foreign tax credits, and it can’t file counterclaims against the 401(k) plan trustees that challenged the credits, according to a Florida federal judge’s ruling.

John Hancock’s attempt to bring claims against the plaintiff 401(k) plan trustees and their third-party investment adviser is a “dilatory filing” that would “generate undue delay and prejudice” if allowed, Magistrate Judge Jonathan Goodman of the U.S. District Court for the Southern District of Florida held Tuesday.

“Granting the motion would result in the need to reopen discovery, substantially amend ...