A federal judge in Newark, N.J., has dismissed a massive policyholders' class-action accusing brokers and insurers of anti-trust and racketeering activity, saying plaintiff's need to show a more complete scheme was in place.
U.S. District Court Judge Garrett E. Brown Jr., however, gave the plaintiffs 30 days to revise their complaint, writing that he was doing so "because so much time has been invested in this case by all parties, and because courts should construe plaintiff's allegations liberally at this stage of the proceedings…"
The case combines class actions alleging bid-rigging and price-fixing in both the commercial property-casualty insurance market, as well as the market for employee benefits insurance plans.
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