Judge Declines to Quit Prudential Case

A federal judge overseeing a settlement between Prudential Insurance Co. of America and millions of customers it was accused of defrauding rejected a request to step down from the case. U.S. District Judge Alfred M. Wolin was asked to step aside by a number of disgruntled policyholders who questioned his impartiality because he had met privately with Prudential Chairman Arthur F. Ryan. But Wolin said the meetings were proper, and denied that his rulings in the “complex and massive piece of litigation” were tilted toward the life insurer. Wolin gave the deal preliminary approval in October. Pittsburgh attorney Michael P. Malakoff, who represented the disgruntled policyholders, said he had not decided whether to appeal. The settlement over sales abuses by Prudential’s agents could bring at least $410 million--and perhaps over $1 billion--to 10.7 million people who were policyholders between 1982-95.