Hartford Life Insurance Co.
Summary of Case and Settlement: Shepherd, Finkelman, Miller & Shah, LLP ("SFMS"), along with co-counsel, have obtained final approval of a settled class action against Hartford Life Insurance Company ("Hartford Life") in the United States District Court for the District of Connecticut, Civil Action No. 3:06-CV-1835 (AVC).
The Complaint alleged that The Hartford Financial Services Group, Inc., Hartford Life and Neuberger Berman Management, Inc. (collectively, “Defendants”) entered into revenue sharing agreements and arrangements with various mutual funds, as well as between themselves, pursuant to which Defendants received payments for their own benefit in violation of the Employment Retirement Income Security Act (“ERISA”), 29 U.S.C. Sec. 1001 et seq.
For purposes of the settlement, the Court certified a monetary relief class consisting of all current and former trustees, sponsors, fiduciaries, and administrators of employee pension benefit plans covered by ERISA subject to Internal Revenue Code ("IRC") Sections 401a or 401k for which employee pension benefit plans Hartford Life has acted as a service provider at any time from November 14, 2003 through March 1, 2010. The Court further certified a structural changes class consisting of all trustees, sponsors, fiduciaries, and administrators of employee pension benefit plans covered by ERISA and subject to IRC Sections 401a and 401k for which employee pension benefit plans Hartford Life acts as a service provider on March 1, 2010 and all trustees, sponsors, fiduciaries, and administrators of employee pension benefit plans covered by ERISA subject to IRC 401a or 401k for which employee pension benefit plans Hartford Life acts as a service provider after March 1, 2010.
The deadline for submission of claims was June 29, 2010.
For information on the settlement, please click on the links below Settlement Information.
More Information: If you would like to receive additional information on the settlement, please click here.
Settlement Information
This page last updated: 2010-07-12 15:29:44