Financial Services Industry
Industry: Email Alert RSS FeedNorthwestern sues ex-agent, seeking to blunt his attacks; Alleges illegal conduct in defendant's use of a website which says company steers clients to proprietary funds.(News)
Investment News, March, 2005
Byline: Brooke Southall SAN FRANCISCO - Northwestern Mutual Life Insurance Co. is suing one of its former agents who runs a website that publishes content highly critical of the company's practices. The Milwaukee-based financial services giant is suing Policyowner Protection Services Inc.
and iDavid A. Stinnett, a former Northwestern agent it fired in 1994, alleging that they are using the firm's website for unlawful purposes. The website, nmlcomplaints.com, which Mr. Stinnett launched in 1999, alleges. among other things, that Northwestern steers its clients to the mutual funds of Tacoma, Wash.-based Russell Investment Group. Northwestern filed the suit against the Evansville, Ind.-based company on March 3 in the U.S. District Court for...
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