Pacific Lumber, Scotia, Calif., has agreed to put $7 million into a settlement fund for 2,681 participants and beneficiaries for allegedly losing millions in purchasing Executive Life annuities. The settlement stems from a 1991 lawsuit filed by the Department of Labor against Pacific Lumber and its subsidiaries. The lawsuit charged that Pacific Lumber allegedly picked Executive Life imprudently.
Pacific Lumber, Scotia, Calif., has agreed to put $7 million into a...
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