Deals
Nationwide to Pay $26 Milion in Suit Over Harleysville
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Nationwide Mutual Insurance Co. agreed to pay $26 million to settle claims that executives of a company it acquired this year enriched themselves by diverting a takeover premium from the firm’s customers.
Nationwide filed a tentative settlement agreement in state court in Philadelphia, it said in a statement today. The lawsuit stems from Columbus, Ohio-based Nationwide’s $834 million acquisition of customer-owned Harleysville Mutual Insurance Co. in May.