Employer Sponsored 457 Retirement Plan

Represented a large international national insurance company and its captive broker-dealer in five NASD Arbitration claims brought by 38 municipal firefighters in which they alleged that the registered representative was negligent and committed fraud in recommending that they invest in aggressive annuity subaccounts in their employer sponsored 457 Retirement Plan. After consolidating the cases we were able to position the case for mediation and a successful settlement. Settlement prior to a hearing was important to the client to avoid ill will with the municipal sponsor, to avoid negative press and to lessen the likelihood of additional claims by hundreds of other employees serviced by the registered representative.