New York Life Insurance Co. reached a settlement with employees challenging the in-house investment funds in their retirement plans.
The parties struck a tentative deal to resolve the case on a class-wide basis, they told Judge Jesse M. Furman of the US District Court for the Southern District of New York in a Monday court filing. Furman set a Feb. 26 deadline for them to file details of the agreement for court approval.
The lawsuit takes aim at a pair of New York Life retirement plans that together hold more than $4 billion. Former employees say the company defaulted ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.