The Court held the Final Approval Hearing on Tuesday, October 6, 2020
and ruled the Settlement Agreement is fair, reasonable, adequate, and in the best interest of the Settlement Class.
The Order Granting Final Approval and Fees was issued on October 6, 2020.
What is this Lawsuit about?
A Settlement has been reached in a class action lawsuit against The Northwestern Mutual Life Insurance Company. The class action lawsuit involves whether Northwestern Mutual charged its customers an additional fee based on the method by which they chose to pay their monthly premiums, which is alleged to violate New York law. Defendant denies any wrongdoing and denies the Plaintiffs' allegations. The Court has not determined who is right, and the Parties have agreed to settle the lawsuit.
Who is Included?
The Settlement Class includes all persons with a New York mailing address who from June 21, 2016 to and through May 28, 2020 were charged by Defendant an additional rate or fee or a differential in the rate or fee based on the method by which they chose to make payments.
What does the Settlement provide?
A Settlement Fund has been created totaling $595,000. Class Member payments, as well as the cost to administer the Settlement, the cost to inform people about the Settlement, attorneys' fees, and awards to the Class Representatives, will be paid out of the Settlement Fund.