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By David Conn and David Conn,Sun Staff Writer | September 7, 1994
A top official with the Prudential Insurance Co. of America has sued the Johns Hopkins Health System Corp. and an affiliate for $30 million, claiming she was libeled in a letter written by Hopkins' chairman, who accused her of unethical behavior.Barbara B. Hill, vice president for health care policy at the Prudential, said in her lawsuit that a letter from H. Furlong Baldwin, chairman of Hopkins' board of trustees, to Prudential's chairman attacked her professional reputation and competence.
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By Karen Nitkin, For The Baltimore Sun | March 10, 2013
Two years ago, when Sade Miller was in fifth grade at Ridgely Elementary School in Denton, she decided to raise money for the hospice in Caroline County. Instead of holding a bake sale or asking the adults in her life for money, Sade (pronounced Sha-day) decided to teach the dance in Michael Jackson's "Thriller" video to nearly 100 students in her school, who then performed it at several venues in town. "We didn't charge admission," said Sade, now 12 and in seventh grade at Lockerman Middle School.
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NEWS
By NEW YORK TIMES NEWS SERVICE | December 21, 1997
TALLAHASSEE, Fla. -- A lawyer for the Prudential Insurance Co. of America told Florida investigators that the company's top executive approved a $1.46 million payment to a mid-level official who had threatened to go public with details of how insurance agents had long cheated customers nationwide, according to transcripts of sworn statements released late Friday by state officials.Prudential, the nation's largest insurance company, had fought for months to keep the documents secret, contending that they were protected by attorney-client privilege.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | November 23, 2003
Real estate agents are no less vulnerable to crime than any other segment of the population. In fact, the National Association of Realtors, which represents almost 1 million members nationally, is suggesting that agents are even more vulnerable. "The risks Realtors face often have an impact with tragic consequences," said Cathy Whately, a past president of the organization. "Working with an unfamiliar person, in an isolated location, may potentially expose both male and female agents to life-threatening situations."
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun Staff Writer | June 26, 1994
Today's highly-sought-after homebuyer might be found cruising the streets in search of "For Sale" signs or traipsing through yet another open house. Or he might be home waiting by the phone.Officials at Prudential Preferred Properties are betting on the latter -- and hoping to reach out and touch some buyers.Through a new telephone-sales program intended to meet changing needs in an increasingly competitive market, the company hopes to contact potential buyers by targeting areas based on demographics.
BUSINESS
By New York Times News Service | December 30, 1993
NEW YORK -- Federal prosecutors have broadened their inquiry into the fraud scandal at Prudential Securities and have begun to advise a number of current and former executives that they should hire criminal lawyers, people involved in the case said yesterday.The actions of a wide array of those executives, including George L. Ball, the former chairman and chief executive, and Loren Schechter, the current general counsel, are being examined by prosecutors as part of a broad criminal inquiry into the firm's sales of limited partnerships in the 1980s.
BUSINESS
By New York Times News Service | October 23, 1993
Customers throughout the country flooded Prudential Securities and state regulators with anxious telephone calls yesterday as they tried to understand the settlement of sweeping fraud charges by a firm that had aggressively sought to win their trust and their business.A number of Prudential brokers expressed dismay and some surprise over the depth of the public reaction, as they spent hours trying to explain to clients what the settlement means and how it works.So it went on Prudential's first day in the lonely club of investment houses hit with government charges of significant wrongdoing.
BUSINESS
By Peter H. Frank and David Conn and Peter H. Frank and David Conn,Sun Staff Writers | April 10, 1994
The lawsuit Johns Hopkins Health System filed against the Prudential Insurance Co. of America last month has all the elements of a classic corporate showdown: clashing industry leaders, high-priced attorneys, influential executives, and large sums of money.Call it "The Dome vs. The Rock."But the two companies are not just fighting over $50 million in damages and the fate of one local health maintenance organization, as the suit indicates.The fight, two years in the making, reaches much further than that.
BUSINESS
By BLOOMBERG NEWS | February 25, 1997
NEWARK, N.J. -- Prudential Insurance Co. of America could pay as much as $3.38 billion, more than twice what the company expected, to settle a sales fraud lawsuit, a lawyer for policyholders said yesterday.Melvyn Weiss told a federal judge the cost of settling claims depends on how many policyholders ask for compensation. Prudential, the largest U.S. insurer, misled life policyholders for 13 years and will face at least $2 billion in payments, the lawyer estimated.The more claims, "the higher this number gets, and Prudential has agreed to stand by it no matter what the price is," Weiss said at a hearing in U.S. District Court in Newark, N.J.Lawyers for both sides yesterday urged U.S. District Court Judge Alfred Wolin to approve the settlement of the class-action lawsuit, which claims Prudential's agents persuaded customers to needlessly exchange life insurance policies for more expensive ones from 1982 to 1995.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | June 18, 1998
With billions of dollars at stake and after little debate, New Jersey lawmakers are poised to adopt legislation governing the reorganization of Prudential Insurance Co. of America that consumer advocates say contains troubling loopholes that could shortchange nearly 11 million policyholders.The legislation, which was drafted by Prudential in meetings with state regulators and comes up for a vote today in the state Assembly, provides a framework for distributing stock to the policyholders as Prudential shifts from a mutual insurer, nominally owned by its customers, to a publicly traded company.
BUSINESS
By BLOOMBERG NEWS | October 2, 2003
Prudential Securities fired a dozen brokers and managers in its Boston and New York offices after regulators alleged that some brokers traded mutual funds for quick profits at the expense of long-term investors, people familiar with the situation said. The Boston employees included Robert Shannon, manager of the office, and five brokers, Martin Druffner, Justin Ficken, Marc Bilotti, John Peffer and Skifter Ajro, their lawyers said. Prudential, part of Wachovia Securities, also dismissed six employees in two offices on Long Island and in Manhattan, a person familiar with the matter said.
NEWS
September 4, 2003
Edward Eugene Simpson Jr., a retired Army officer and manager for Prudential, died of lung cancer Saturday at Northwest Hospital Center. The Pikesville resident was 60. Born and raised in West Baltimore, Major Simpson attended City College. He entered the Army in 1959, and while in the service earned his high school equivalency and then a bachelor's degree in business from Hampton University in Virginia, graduating in 1973. Major Simpson served as a tank commander in Vietnam from 1968 to 1969, and was awarded the Bronze Star for "meritorious achievement in ground operations against hostile forces," according to the medal citation.
BUSINESS
December 8, 2002
Residential real estate firm Herbert Davis Associates has been sold to Prudential Carruthers Realtors as the company expands in the Baltimore area. Severna Park-based Prudential executives said they chose Herbert Davis for its niche in selling homes priced at $500,000 or more in the Baltimore County area. Brooklandville-based Herbert Davis moved its 12 employees to Prudential's York Road offices last week. President Herbert Davis, who founded the company 23 years ago, said he decided about a month ago to step away from the firm's day-to-day management duties.
BUSINESS
July 15, 2001
Long & Foster chief named 1 of 5 most admired by peers P. Wesley Foster Jr., founder and president of Long & Foster Real Estate Inc., was named by his peers as one of the five most admired real estate professionals in the country in Real Trends, an industry trade publication. The magazine, which reports on residential real estate, recognized Foster and the others for affecting the real estate industry, based on responses from thousands of readers. Foster, a resident of McLean, Va., heads the mid-Atlantic region's largest real estate company, with 166 offices and more than 7,600 sales associates.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | May 31, 2001
Corporate Office Properties Trust announced yesterday that it has acquired three more office buildings in Columbia. The buildings bring COPT's total to 57 buildings in the Baltimore-Washington corridor and 10 in Columbia Gateway business park. That includes an office building under construction and expected to open in the fourth quarter. "The company has been successful, through both acquisition and development activities, in creating a critical mass of Class A office buildings in the premiere business park in Howard County," Randall M. Griffin, COPT's president and chief operating officer, said in a statement.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | March 13, 2001
LONDON - In the biggest trans-Atlantic insurance deal ever, Britain's Prudential PLC said yesterday that it had agreed to buy the American General Corp., the second-largest life insurer in the United States, in an all-stock deal that it valued at $26.5 billion. The deal would propel the British group into the big league of global insurers. But as stock markets declined around the world yesterday, investors punished Prudential's shares, which fell by as much as 14 percent, cutting into the value of the deal.
BUSINESS
By Bill Atkinson and Bloomberg Business News | December 29, 1996
PRUDENTIAL Insurance Co. has been on the hot seat after agents with the giant insurer were accused of using improper sales practices to coax thousands of policyholders to buy new life insurance, which wiped out the value of their old policies and caused many to lose their life's savings.Prudential is the subject of dozens of lawsuits. Regulators in some states have moved to lift its license. Insurance-rating services have lowered Prudential's grade. Now evidence has surfaced that Prudential employees destroyed documents to cover wrongdoing.
BUSINESS
By Sandy Alexander and Sandy Alexander,SUN STAFF | January 28, 2001
Real estate and football. On the surface one would think the two wouldn't have anything in common. But then again ... In football, teams strive for good field position. In real estate, it's location, location, location. In football, it's the contact. In real estate, it's the contract. In football, there are special teams. In real estate, to be part of a team can be very special. Much like the Ravens in their first Super Bowl today, many real estate agents already know that teamwork is key to being a success in a competitive environment.
BUSINESS
January 30, 2000
Area home sales up a bit in December The Metropolitan Regional Information Systems Inc., a real estate information provider in Rockville and the multiple list service for Realtors, reported that 9,474 homes were sold last month, up from 9,135 in December 1998. Dollar volume for the month totaled more than $1.8 billion, compared with just over $1.6 billion in the previous year. MRIS serves more than 27,000 Realtors in Maryland, Virginia, West Virginia, Pennsylvania and the District of Columbia.
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