Zurich settles $455m US class action
Zurich Financial Services Group has announced today that it and its wholly-owned subsidiary, Farmers Group, has agreed in principle to a proposed comprehensive settlement in the matter of Fogel vs. Farmers Group, a purported nationwide class action lawsuit pending in Superior Court in Los Angeles, California.
The proposed settlement will resolve all claims, dating back to 1999, in a complaint originally filed in August 2003.
In the lawsuit, the plaintiff challenged the management services fees paid by the
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