A former Republic Mortgage Insurance Co. employee advanced a proposed class action saying the company’s profit sharing plan lost $1.3 million when its guaranteed interest account was liquidated amid a high interest rate environment.
Republic sought to have the case dismissed, saying it was improperly based on “speculation and hindsight.” Judge Catherine C. Eagles on Tuesday denied the mortgage insurance company’s motion in a two-page order that didn’t include a written analysis of the case.
The five-month-old lawsuit, which is pending in the US District Court for the Middle District of North Carolina, centers on a guaranteed interest account ...
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.