Summary of Pending Case: In re Insurance Brokers Antitrust Litigation (D.N.J.). The firm is one of two Co-lead Counsel representing classes of plaintiff insurance policyholders in multidistrict class actions alleging that insurance companies and insurance brokerage firms conspired with one another to allocate customers and markets resulting in charging and collecting artificially inflated premiums from policyholders. The district court dismissed plaintiffs’ federal antitrust and RICO claims, and plaintiffs have appealed. The appeal was argued in April 2009 and is currently awaiting decision.
The Class Plaintiffs have settled with both the Zurich and Gallagher Defendants for $121.8 and $28 million respectively. Both settlements have been finally approved and a number of appeals by objectors have been rejected by the court of appeals, which, on September 8, 2009, affirmed in all respects both settlements.
The Class Plaintiffs' settlement with the Marsh Defendants for $69 million has been finally approved, and several objectors have appealed. The vast majority of the objections mirror those made and rejected in the Zurich and Gallagher Settlement appeals. Briefing and argument, if any, for the Marsh appeals have not yet been scheduled.
For more information about the settlements, visit: www.insurancebrokerageantitrustlitigation.com
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