Bower v. MetLife, Case No. 1:09-cv-00351
Update—The Court granted final approval to the Settlement on October 17, 2012. Payments were mailed to eligible class members between December 21st and December 28th, 2012. Checks must be cashed within 90 days of the date of issuance.
Payments to eligible class members were calculated according the Court-approved allocation plan. The allocation plan provides for a payment to each Class Member that is proportionate to the amount of delayed settlement interest originally received by that Class Member compared to the total amount of delayed settlement interest originally received by all the Class Members collectively.
This website provides you with information concerning the proposed $11.5 million class action settlement (the "Settlement") in the case of Bower et al. v. MetLife Inc. et al. The contents of this website have been approved by the federal district court that preliminarily approved the class action Settlement. However, the website provides only a summary of available information. Please read the documents available on this site — including the Settlement Agreement — if you want more details. This website also explains how you may ask for more information.
The $11.5 million class action Settlement is intended to resolve a 2009 lawsuit involving the amount of delayed settlement interest paid to certain beneficiaries under the Federal Employee Group Life Insurance ("FEGLI") Policy. The plaintiffs in that lawsuit claim that Metropolitan Life Insurance Company, Inc. ("MetLife") failed to pay them all the delayed settlement interest the FEGLI Policy requires. Although MetLife has agreed to the Settlement, MetLife denies that it did anything wrong.
Briefly, the Settlement calls for MetLife to pay $11.5 million to a "Settlement Fund." That money will be used to pay Class Members a share of the Settlement Fund proportional to the amount of delayed settlement interest originally received by the Class Member compared to the total amount of delayed settlement interest originally received by all the Class Members collectively. All Fees and Costs (which include settlement notice and administration costs, attorneys' fees and expense reimbursements, and Contribution Awards to the Class Representatives) must be approved by the Court before they can be paid from the Settlement Fund. In exchange, MetLife will receive what is called a "release," which, generally speaking, bars Class Members who do not properly exclude themselves from the Settlement from bringing or joining a lawsuit against MetLife for delayed settlement interest.
The federal district court in charge of this case will hold a hearing on October 17, 2012 to decide whether to give its final approval of the $11.5 million Settlement. At that time, the Court will determine whether the proposed Settlement is fair, reasonable, and adequate.
This website explains your rights under the Settlement and provides you with information intended to help you understand your options.
You must exercise some of your rights by the Court-imposed deadlines or you will lose them. By way of summary:
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
• DO NOTHING – You will be included in the Settlement and a payment from the Settlement Fund will be mailed to you if the Court approves the Settlement. This is the only way to get a payment from the Settlement Fund.
• ASK TO BE EXCLUDED – Get no payment. You will not participate in the Settlement and will not receive a payment from the Settlement Fund. This option allows you to assert an individual claim against MetLife for delayed settlement interest, to the extent permitted by law. You must act by September 17, 2012.
• OBJECT – Write to the Court about why you do not like the Settlement. You must act by September 17, 2012.
• GO TO A HEARING - Ask for permission to speak in Court about the fairness of the Settlement. You must act by September 17, 2012.
Any questions? Click on the tabs to the left.