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Massachusetts Charges MetLife with Fraud Over Filings Related to 13,500 Missing Participants
Pensions & Investments 
June 26, 2018 "[T]he complaint alleges that MetLife's public filings contained material misstatements about company finances, because reserves set aside for missing participants were released and 'became assets which inflated MetLife's bottom line.' ... [In a February 8-K filing with the SEC, MetLife] said about 13,500 participants had been affected over the past 25 years. MetLife said the reserves set aside for those participants were released. Now, the company has added $510 million back to those annuity reserves." MORE >> |
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