Donahoo & Associates, PC began a trial this week against MetLife, Inc. The case involves a defunct real estate fund, Diversified Lending Group, run by Bruce Friedman, that offered a high guaranteed rate of return to its investors. The suit alleges DLG was introduced to the investors by MetLife agents and brokers, who themselves learned of the program in a MetLife company training session.
Open arguments were covered by Law360 on July 20. Read the story “MetLife Owes for Agents’ Role in $216M Ponzi Scam, Jury Told” (subscription required).
For additional background on the case, read the New York Times article “MetLife Suit Raises Questions of Extent of Corporate Liability.”