Republic Mortgage Insurance Co. received initial court approval for a $650,000 class settlement over claims its profit sharing plan lost $1.3 million when its guaranteed interest account was liquidated amid a high interest rate environment.
The agreement, which is slated to benefit about 100 Republic Mortgage plan participants who invested in the account, represents 50% of their potential recovery in the case. Judge Catherine C. Eagles, who previously allowed the case to advance, granted preliminary approval to the deal and scheduled an April 16, 2026, fairness hearing in an order issued Dec. 5 in the US District Court ...
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