NU Online News Service, Aug. 19, 11:35 a.m. EDT
A federal appeals court has vacated the decision by a district court three years ago to dismiss antitrust and racketeering complaints against numerous insurers and brokers allegedly involved in a bid-rigging scheme with Marsh & McLennan.
The 3rd U.S. Circuit Court of Appeals in Philadelphia said it finds that plaintiffs do have grounds to go after the defendants with claims based on the alleged violations of the Sherman Antitrust Act and Racketeer Influenced and Corrupt Organizations (RICO) act.
The U.S. District Court for the District of New Jersey had ruled on several occasions that plaintiffs in the consolidated case--pertaining to claims regarding commercial and employee benefits insurance--could not use the Sherman and RICO claims because it found plaintiffs "lacked requisite factual specificity," according to the 200-page decision.
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