Met Life Wins Dismissal in Class Action Case

Skadden recently won a major victory for Metropolitan Life Insurance in a putative nationwide class action by securing a dismissal of the plaintiffs' breach of contract claims. The lawsuit, Beavers v. Metropolitan Life Insurance Company, claimed that allocation of income from Met Life's real estate investments from the 1970s and 1980s resulted in dividend payments to life insurance policyholders in the 1990s that were lower than they should have been.