Business Services Industry
The Hartford Financial Services' executives sued.
Knight Ridder/Tribune Business News, November, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Nov. 4--The Hartford's executives and directors mismanaged the company and enriched themselves while concealing commission payment practices that have spurred widespread investigations, a new lawsuit says.
New York shareholder Philip Stampfel has filed suit in New Haven federal court seeking an unspecified amount of restitution for the company and whatever damages the company sustained as a result of their alleged wrongdoing.
Unlike shareholder class actions, the new suit does not seek damages for shareholders. As a "derivative" suit, it seeks to have 14 top executives and directors of The Hartford Financial Services Group Inc. pay the company for the...
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