HARSHBARGER et al v. PENNSYLVANIA MUTUAL LIFE INSURANCE COMPANY
Case Number:
2:12-cv-06172
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
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April 25, 2017
Penn Mutual Settles Insurance Surplus Fund Suit for $110M
Pennsylvania Mutual Life Insurance Co. has struck a $110 million settlement with a class of policyholders who alleged the company breached its obligations by improperly withholding surplus funds rather than distributing them as dividends, bringing to a close a five-year-old suit in federal court.
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April 11, 2014
Penn Mutual Ducks Lawsuit Claiming It Kept Surplus Profits
A Pennsylvania federal judge on Friday dismissed a class action alleging Pennsylvania Mutual Life Insurance Co. cheated policyholders out of more than $5 million by holding on to profits rather than distributing them, ruling the issue is under the Pennsylvania Insurance Department's discretion.
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November 01, 2012
Penn Mutual Faces Action Over Life Insurance Surplus Funds
Pennsylvania Mutual Life Insurance Co. was hit by a class action Wednesday alleging the company improperly held on to profits rather than distributing them to policyholders as dividends, thus cheating policyholders out of more than $5 million over at least 18 years.