Prudential Penalty Approved By Court

Tue., March 11, 1997

From Staff And Wire Reports

A federal judge has approved a class-action settlement that would compensate life insurance policyholders victimized by deceptive sales pitches from agents of Prudential Insurance Co.

An accounting firm has said the settlement could cost the nation’s largest life insurer up to $2 billion. As many as 10.7 million policyholders who bought Prudential policies from 1982 to 1995 may qualify for compensation.

Policyholders have until June 1 to decide what form of compensation they want, said Melvyn I. Weiss, a lawyer for policyholders.

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Prudential Penalty Approved By Court

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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