Judge Rules in Prudential Class Suit

In an unannounced hearing behind closed doors, a federal judge in Newark, N.J., issued a ruling that substantially advanced a controversial class-action settlement affecting millions of Prudential Insurance Co. policyholders nationwide. Prudential spokesman Robert DeFillippo said U.S. District Judge Alfred Wolin officially certified a class for settlement purposes, a legal step that would make the proposed settlement apply to nearly all Prudential customers nationwide who were the victims of alleged fraud and misrepresentation in the sale of life insurance policies. The proposed settlement, unveiled Sept. 24, would provide at least $410 million in damages to customers.