A federal judge in Newark, N.J., has dismissed a massive policyholders' class-action suit accusing brokers and insurers of antitrust and racketeering activity, saying plaintiffs need to show a more complete scheme was in place.
However, U.S. District Court Judge Garrett E. Brown Jr. gave the plaintiffs 30 days to revise their complaint, “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 sale of commercial property-casualty insurance as well as employee benefit plans.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
