New York Life Insurance Co. employees challenging the in-house investment funds in their retirement plans on Monday announced a $19 million class settlement with the company.
The deal is expected to cover more than 40,000 people who invested in any of five challenged funds through a pair of New York Life retirement plans since March 2015. It provides them with a “robust monetary recovery” that represents between 20% and 25% of their total estimated losses, according to the settlement motion. The parties first announced they’d reached an accord in January.
The lawsuit challenged how New York Life managed a ...
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