Debevoise disqualified in $8bn class action against MetLife

Eastern District of New York Judge Thomas Platt has issued an order disqualifying Debevoise & Plimpton to act as counsel for MetLife in an $8 billion class action. The class action against MetLife -- which consists mostly of holders of open-ended life insurance policies claiming to be damaged by the prospectus that Debevoise prepared to solicit their votes in favor of the conversion from a mutual company to a publicly traded stock company -- is now stalled, as the 2nd U.S. Circuit Court of Appeals is hearing an appeal against the order.

Debevoise disqualified in $8bn class action against MetLife law.com Fri, Sep 4, 2009