Eastern District of New York Judge Jack B. Weinstein has approved a combined $50 million settlement in two class actions that had accused the Metropolitan Life Insurance Co. of making false claims to shareholders in 2000 as part of the company’s attempt to privatize.
Under the agreement, MetLife will pay $32.5 million to a yet-to-be-named health-related non-profit organization, $2.5 million to the National Institutes of Health and a total of $15 million to about two dozen attorneys.
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