Policyholders filed a class action lawsuit against the insurance broker over its 1998 sale to Nationwide Mutual Insurance Co. The lawsuit claimed some directors and executives improperly transferred assets of the property and casualty insurer to a publicly held subsidiary, Allied Group. A Polk County District Court Judge has approved a $100 million class action settlement plus $28.5 million in legal fees and expenses. (Oct-07-05)
[DES MOINES REGISTER]
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