Bob Defillippo News
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Prudential Financial Inc., the second-biggest U.S. life insurer, bought a San Francisco office tower amid increased investor demand for commercial real estate in the city, according to two people familiar with the deal.
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Pruco Securities LLC, the brokerage run by Prudential Financial Inc., will pay customers at least $10.7 million to make up for delays in placing more than 850,000 mutual fund orders.
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The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.
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Life insurers are secretly profiting from death benefits owed to the survivors of service members and other Americans.
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The U.S. Department of Veterans Affairs failed to inform 6 million soldiers and their families of an agreement enabling Prudential Financial Inc. to withhold lump-sum payments of life insurance benefits for survivors of fallen service members, according to records made public through a Freedom of Information request.
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The agency secretly amended the insurer’s contract, allowing it to withhold payments to survivors of fallen soldiers.
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Prudential Financial Inc. Chief Executive Officer John Strangfeld, who told investors to expect return on equity of at least 13 percent next year, can miss that goal and still qualify for his performance share awards.
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Pruco Securities LLC, the brokerage run by Prudential Financial Inc., will pay customers at least $10.7 million to make up for delays in placing more than 850,000 mutual fund orders.
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Hedge fund FrontPoint Partners LLC employees were allegedly tipped by a French doctor working as a consultant for Human Genome Sciences Inc. on the results of trials for the hepatitis-C drug Albuferon, a person familiar with the matter said.
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A lawsuit accusing Prudential Insurance Co. of America of improperly collecting interest on unpaid veterans’ life-insurance benefits was expanded to include claims of fraud.
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