Cases
Goldstein v. Savings Bank Life Ins. Co. of Massachusetts, On May 20, 2010, the Superior Court granted final approval for the settlement of this Class Action lawsuit. The settlement resolved a lawsuit that began in May 1998 that involved claims by the plaintiff-policyholders that SBLI had underpaid annual dividends on their policies as well as Special Dividends required as a result of SBLI's 1992 reorganization. In sum, the Plaintiffs
SBLI agreed to settle this lawsuit with SBLI's payment of $18,675,330 plus the costs of sending the Class Notice
administering the settlement to a certified subclass of policyholders
Gintia v. Bouchard Transportation, On November 4, 2010, the Court granted final approval for the proposed Settlement of $11.45 millions the Class of all persons owning waterfront property or deeded rights to waterfront property along Buzzards Bay, Massachusetts, excluding Mattapoisett, that was oiled by the Bouchard Oil Spill on April 27, 2003, Silverman v. Liberty Mutual Insurance Company, In this case, policyholders alleged that Liberty Mutual had filed a misleading proxy concerning its conversation to a mutual holding company
that the conversion, as structured, would harm the policyholders' equity interests in the mutual. After extensive pretrial litigation
targeted discovery, the case was settled on behalf of the named plaintiffs through an agreement that included (i) substantive changes in the way the company would operate for up to ten years, to eliminate or reduce potential conflicts resulting from the conversion,
(ii) the payment by Library Mutual of over $850,000 for litigation costs
to fund ongoing reform efforts
Heritage Health Services v. Beacon Mutual Ins. Co., Plaintiffs have defeated several motions to dismiss
one motion for summary judgment
have certified a class of approximately 15,000 of Beacon Mutual's policyholders (Rhode Isl
employers) who Plaintiffs allege were wrongly denied policy dividends from Sept. 2011 to March 2006
L
y v. D'Aless
ro et al., In this derivative case, a shareholder of John Hancock Financial, Inc. sued CEO David D'Aless
ro
the Hancock board of directors for allegedly paying
receiving unlawful, excessive director pay
executive compensation, the case survived a motion to dismiss as to the directors
was dismissed without prejudice with a right to refile the complaint. A subsequent sale of Hancock to Canadian-based Manulife Financial changed the Delaware Corporate law underlying the case
it was dismissed.