NEWARK, N.J. — A judge has granted a $138,000 frivolous suit award to four Port Authority of New York and New Jersey police unions that defeated a claim that they cheated retired members out of a piece of The Rock.
Monmouth County, N.J., Superior Court Judge Daniel Waldman ruled that the retirees pursued an unwarranted claim that their unions should have helped them obtain some of the $3.4 billion that Prudential Insurance Co. paid to policyholders when it converted from a mutual company to a stock company in 2001.
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