A U.S. District Court in New Haven, Conn., has approved a $24.4 million settlement in a case involving life insurance race discrimination allegations.
The defendant was John Hancock Life Insurance Company, Boston, which is now a unit of Manulife Financial Corp., Toronto.
U.S. District Court Judge Janet Bond Arterton signed off on the settlement agreement Friday, according to Mehri & Skalet P.L.L.C., Washington, and Klafter Olsen & Lesser L.L.P., Rye Brook, N.Y., the law firms that represented the plaintiffs in the case.
Representatives for Hancock said today the company was pleased with the court’s approval of the settlement, noting that the case involved “certain life insurance policies that were sold at least 50 years or more ago.”
What Your Peers Are Reading
John Hancock also affirmed that in its statement that it “is committed to diversity and community” and noted that the court made no finding of liability.