-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AsOFYc2zqpg2sM+Hpi+Gqn6HWpeECeQEI6NyQS3E5jYQf5IzsDEvWR+HBDiP3y03 /e8rXCFKu3FCNIHxLL2DLw== 0000950123-00-005327.txt : 20000523 0000950123-00-005327.hdr.sgml : 20000523 ACCESSION NUMBER: 0000950123-00-005327 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000519 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000522 FILER: COMPANY DATA: COMPANY CONFORMED NAME: METLIFE INC CENTRAL INDEX KEY: 0001099219 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 134075851 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-15787 FILM NUMBER: 641264 BUSINESS ADDRESS: STREET 1: ONE MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010-3690 BUSINESS PHONE: 2125782211 MAIL ADDRESS: STREET 1: ONE MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010-3690 8-K 1 METLIFE, INC. 1 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 -------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: May 19, 2000 ------------------------------ (Date of earliest event reported) MetLife, Inc. ------------- (Exact name of registrant as specified in its charter) Delaware 1-15787 13-4075851 - ---------------------------- ---------------- ------------------- (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation) Number) Identification No.) One Madison Avenue, New York, New York 10010-3690 ------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 578-2211 -------------- - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 2 Item 5. Other Information. On May 19, 2000, New England Life Insurance Company (doing business as New England Financial), a subsidiary of MetLife, Inc., a Delaware corporation, issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Item 7. Exhibits. 99.1 Press Release of New England Life Insurance Company (doing business as New England Financial), a subsidiary of MetLife, Inc., dated May 19, 2000. 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. METLIFE, INC. By: /s/ Gwenn L. Carr ------------------------------------- Name: Gwenn L. Carr Title: Vice-President and Secretary Date: May 22, 2000 4 EXHIBIT INDEX Exhibit Number Exhibit - ------- -------- 99.1 Press Release, dated May 19, 2000. EX-99.1 2 PRESS RELEASE 1 Exhibit 99.1 [NEF LOGO] NEF Contact: Counsel for Plaintiffs: Peter Harrington Barry Weprin, Esq 617-578-2729 212-594-5300 PROPOSED SETTLEMENT IN MULTI-DISTRICT SALES LITIGATION BOSTON, MA. - New England Financial and lead attorneys for plaintiffs and the class in a multi-district class-action lawsuit today (May 19) announced a proposed settlement of nationwide litigation involving alleged improper sales practices in connection with individual life insurance policies issued by the company. The class-action settlement, if approved by the court, covers some 600,000 current and former policyholders who purchased New England Financial products between January 1, 1983 and August 31, 1996. In resolving these cases, New England Financial does not acknowledge any legal wrongdoing. The multi-district litigation, which consolidates 11 separate suits into a single settlement, has been pending for about four years in U.S. District Court in Boston. -MORE- 2 Page 2 The total value to policyholders of the proposed settlement approximates $172 million, based on analysis provided by actuarial experts retained by the parties. The most common sort of relief policyholders will receive is additional insurance coverage for a period of time from 18 months up to 59 months. Reserves for the estimated cost of the settlement already have been established and are reflected in the company's present financial statements. "What's satisfying about this settlement is that it provides our policyholders valuable benefits while easing the disappointment that the investment climate didn't allow us to meet some of their expectations," said James Benson, Chairman and Chief Executive Officer of New England Financial. "I am gratified that after four years of hard fought litigation, we were able to achieve such a satisfying result for New England's policyholders," said Melvyn I. Weiss, Lead Counsel for the Plaintiff's class. The proposed settlement, similar to those entered into by other major life insurance companies facing comparable allegations, is comprised of two forms of relief. - The first is Settlement Death Benefits, which are available automatically at no cost to all class members who do not elect claim evaluation and which would provide a cash payment if the insured dies during the period the benefit is in effect. This relief is automatic and does not require class members to prove their case. -MORE- 3 Page 3 - The second form of relief is Claim Evaluation, in which class members must submit documentation to a neutral claim evaluator showing that they have been harmed by actual misrepresentations. Successful claimants will receive compensation based on the strength of their claims. ### -----END PRIVACY-ENHANCED MESSAGE-----