Applied Underwriters Applauds Dismissal of RICO Charges

Applied Underwriters Inc. said the decision of a federal judge in California to dismiss racketeering allegations raised in a pair of purported class action claims over its EquityComp program was “particularly meaningful” because it proves the company properly communicated to its clients how the program worked. U.S. District Judge William B. Shubb in an Oct. 17 decision said employers were aware of the contents of a “reinsurance participation agreement” they had to sign when enrolling in the EquityComp program. He also said the document was described in a 2011 paten...