Albany, NY – Securities companies that disparage employees in required dismissal forms cannot be sued for the statements, the state’s highest court ruled Thursday in a decision affecting one of the state’s biggest business sectors.
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In 1997, MetLife hired Chaskie Rosenberg to work in its All-Boro Agency in Brooklyn. Rosenberg and most of the staff were Hasidic Jews whose focus was selling insurance policies to the local Hasidic community.
The next year, the company began investigating improper sales practices at the office, including the sale of speculative insurance. Under such policies, an unrelated person pays premiums on a life insurance policy as a form of investment, expecting to collect when the insured person dies. The office was closed in 2000 and its employees were transferred to another office.
Rosenberg sued MetLife in federal court, claiming he was fired because of his religion and charging the company with defamation. He denies selling speculative insurance policies.
The lawsuit was dismissed. [Businessweek]
What was he thinking to begin with? if he sold policies thats fardried of course the company will deny it