April 2005
Lawyer;4/25/2005, Vol. 19 Issue 16, p10
Trade Publication
The article focuses on the controversies surrounding the financial situation of Equitable Life Insurance Co. The author alleges that all the directors stand accused of negligence and breach of fiduciary duty in failing to take legal advice before deciding on the differential terminal bonus policy that led to a court case and in failing to mitigate the financial risk of losing the litigation and to inform policyholders of the risk. However, Equitable Life's case against its former directors has the potential to be ruinous.


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