New York Life Case - Mehling v. New York Life Ins. Co., Civ. No. 99-CV-5417 (E.D. Pa.)

This case was a federal ERISA class action lawsuit filed by current and former New York Life Insurance Company (“NYL”) employees and agents against NYL and the Board of Trustees of the Company’s employee and agent pension and 401(k) plans (“the Plans”). Plaintiffs alleged Defendants improperly invested assets of various NYL-sponsored employee benefit plans into NYL-proprietary investment products -- primarily, NYL’s former “institutional” (now retail) line of mutual funds -- in a scheme to build Company product lines and boost Company profits.

The Court certified the case as a class action in an Order dated November 01, 2001.

After many years of litigation, the case was settled in 2007 for $14 million. The Court gave final approval to the settlement in March 2008. For updates on settlement administration, please visit for more information.


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