Noted class action Attorney Ralph Stone, lead plaintiff counsel in the Macomber v Travelers rebating class action litigation agreed to spend a few minutes with Mark Wahlstrom on The Settlement Roundtable this week in order to discuss the recent decision by the CT Supreme Court.
As many of you know, the Macomber case has been ongoing for over 8 year now, and the recent decision was really a mixed bag, in that it released Smith Barney Solomon from the class, but also reopened discovery on the basic contention of rebating and whether it was systemic in the organization, so if you are a settlement professional, trial lawyer or work in the life or casualty insurance area, you will enjoy this 15 minute podcast.
You can also learn more about Attorney Stone, his background and his legal practice by clicking here in our recent guests section.
We hope to have Attorney Stone on again in the future as the case progresses to keep us apprised of developments in this landmark litigation regarding the settlement industry. I also hope to have other defense attorney's in who have an interest in the litigation to get their perspective on the litigation, it's impact on the industry and the likelihood of other similar cases appearing
As many of you know, I've felt that the larger picture in this matter is the topic of compensation disclosure, and that we as an indusrty are living in a fool paradise that is about to end, in which we are not required to disclose compensation and potential conflicts to our clients. We are lagging behind the rest of the insurance industry in this area, and can't even compare to what is required of registered reps or investment advisors as regards disclosures of compensation and conflicts. I hope to explore the topic further in the coming months and welcome your show and guest ideas on the topic.