Painewebber Could Have A Peck Of Trouble

A new suit charges it with misleading insurance sales practices

For class-action attorneys, the insurance industry has been a mother lode. In recent years, these lawyers have been successful in getting insurers to ante up to settle charges that they have engaged in misleading sales practices. Insurance giants such as Metropolitan Life Insurance Co. and Prudential Insurance Co. have agreed to settle for many millions of dollars (table).

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