MetLife
Recent News About MetLife
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Industry experts, elder advocates say $15 million MetLife verdict sends clear message
LOS ANGELES — Sending the message that MetLife should have stopped agents who referred clients to an unauthorized investment scheme that could help them buy insurance, a jury awarded approximately $15.6 million to the first of many individuals’ claims earlier this fall.
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MetLife's paper reviews by doctors ruled as structural conflict in ERISA case
SAN FRANCISCO — MetLife has been found liable after denying a transition in Daniel Demer's benefits in Demer v. IBM Corporation LTD Plan, which was filed in the 9th Circuit Court of Appeals in San Francisco, California.
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Unanimous verdict sides with plaintiff in suit against MetLife, awards $15.6 million
LOS ANGELES – The jury has awarded $15.6 million to the plaintiff in the lawsuit against MetLife, its subsidiaries and a former managing partner, holding the insurance giant responsible for the losses of a woman who invested in what turned out to be a Ponzi scheme.
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Attorneys make final arguments in MetLife lawsuit
LOS ANGELES – After weeks of testimony in the lawsuit against MetLife and its subsidiary, attorneys delivered their closing arguments and handed the case over to the jury for deliberation, rehashing the facts and pleading for justice.
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Defense wraps up testimony in MetLife case
LOS ANGELES – A key MetLife policy that prohibits insurance agents from referring clients to anyone selling unapproved securities should have pulled the plug on any referrals to Diversified Lending Group for premium financing, but corporate manuals didn’t instruct supervisors and agents on how to identify which products were off limits, according to testimony in the trial against MetLife.
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Office assistant testifies Russon pushed DLG as an opportunity for insurance customers
LOS ANGELES — Two witnesses in the trial against MetLife offered glimpses of what workdays looked like in the financial services office that became entangled with a fraudulent real estate investment fund.
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Investment fund employee testifies that he didn't know DLG was a Ponzi scheme
LOS ANGELES – After Diversified Lending Group (DLG) became associated with MetLife and one of its subsidiaries in 2004, the number of investment accounts in the real estate fund grew from fewer than 20 to about 800, according to an employee of the company’s marketing arm.
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Former insurance agent says DLG owner 'deceived' his boss
LOS ANGELES — In 2006, insurance agent and securities broker James Davidson learned at a meeting about a new product that could be used to sell more insurance, but ultimately would wind up as the basis for legal problems.
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Head of MetLife subsidiary continues testimony in fraud case
LOS ANGELES — Despite what have been interpreted as warning signs, Tony Russon testified last week that he continued to trust the owner of Diversified Lending Group during the years that the fund was taking on investors and financing premiums for insurance policies.
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75-year-old plaintiff says she invested in DLG because she trusted MetLife; admits she should have asked more questions
LOS ANGELES – The plaintiff who claims MetLife and one of its subsidiaries endorsed that turned out to be a fraudulent real estate investment fund choked up as she described the embarrassment she felt when the fund was uncovered as a Ponzi scheme in 2009.
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MetLife compliance officer testifies in investment fraud case
LOS ANGELES — Attorneys in the lawsuit against MetLife and its subsidiary grilled a vice president in the insurance giant’s compliance department about policies governing its employees’ activities.
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Company employees testify in MetLife trial
LOS ANGELES – In the first week of testimony, attorneys representing Christine Ramirez in the lawsuit against MetLife and its subsidiary have pointed to years of contracts, emails and scheduled seminars, trying to convince jurors that the insurance giant failed to properly train and supervise its representatives who allegedly promoted a fraudulent investment fund, making it responsible for investors’ losses.