Settlement Agreement
The parties notified the court in January that they had reached an initial deal to resolve the lawsuit and fleshed out the details of the agreement in a February filing. Around that time, lead plaintiff Krohnengold died, and his wife replaced him as a class representative, according to court filings. In their February filing, the participants told the court that the $19 million deal totals 20% to 25% of the losses they claimed the plans suffered.
NY Life Atty $19M Cut : Comments and Representation
Counsel for the plan participants declined to comment. Representatives of New York Life did not immediately respond to requests for comment Wednesday.
The proposed class is represented by Caroline E. Bressman, Eleanor E. Frisch, Jacob Schutz, Michelle C. Yau, Michael B. Eisenkraft, and Kai H. Richter of Cohen Milstein Sellers & Toll PLLC.
New York Life Insurance Co. is represented by Benjamin Reilly, David Rosenberg, Demario M. Carswell, James O. Fleckner, and William J. Harrington of Goodwin Procter LLP.
