Racketeering Allegations Added to EquityComp Class Action Complaints

The administrators of the EquityComp program ended their battle with the California Department of Insurance, but employers who say they were scammed are now bringing allegations of racketeering in class-action complaints. Two related complaints filed in the U.S. District Court for Eastern California against Berkshire Hathaway affiliates Applied Underwriters Inc., Applied Underwriters Captive Risk Assurance Co. Inc., California Insurance Co. and Applied Risk Services accuse the carriers of fraud and unfair business practices relating to EquityComp. Both complaints were amended Wednesday t...