Thursday, July 20, 2006
Court Orders Prudential to Pay Retirees $30M
Prudential Financial Inc. will be paying 300 retirees a total of more than $30 million based on a judgment by the Ohio Court of Appeals.
The judgment is a result of a class-action lawsuit the retirees filed in 1999 in the Marion County Common Pleas Court after a Prudential stockbroker sold more than $40 million worth of investments without the clients' authorization. The retirees said Prudential tried to fraudulently convince the them to ratify the trades to avoid reversing the unauthorized trades at its own expense.
Court Orders Prudential to Pay Retirees $30M
Source: Biz Journals/Yahoo! Finance
The judgment is a result of a class-action lawsuit the retirees filed in 1999 in the Marion County Common Pleas Court after a Prudential stockbroker sold more than $40 million worth of investments without the clients' authorization. The retirees said Prudential tried to fraudulently convince the them to ratify the trades to avoid reversing the unauthorized trades at its own expense.
Court Orders Prudential to Pay Retirees $30M
Source: Biz Journals/Yahoo! Finance
Permalink posted by armandn @ 9:51 AM 
 |
 |  |
  |
