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Banking

Jan. 6, 2004

Trust Firms Settle $90 Million Class Suit

Some of the country's largest financial institutions have agreed to a $90 million settlement of a class action alleging that the companies allowed the looting of trusts set up to cover the medical and living expenses of personal-injury victims.

By Eron Ben-Yehuda
        Some of the country's largest financial institutions have agreed to a $90 million settlement of a class action alleging that the companies allowed the looting of trusts set up to cover the medical and living expenses of personal-injury victims.
        None of the defendants, which include Bankers Trust Co....

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