Judge approves $650,000 settlement for 100 workers after alleged $1.3M retirement savings loss
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A federal judge in North Carolina has approved a settlement worth up to $650,000 for employees of Republic Mortgage Insurance Company. The agreement follows a lawsuit filed by a former employee who accused the company of failing to protect workers' retirement savings from a major financial loss. Senior District Judge Catherine C.
Eagles of the U.S. District Court for the Middle District of North Carolina gave final approval to the class action settlement in a written opinion and order filed on 2 November 2026. The lawsuit, filed under docket number 1:24-cv-00950, was first brought by lead plaintiff Matt B.
Allison on behalf of around 100 members of the company's profit-sharing retirement plan. Allison claimed that the people managing the plan failed to meet their legal duties under the Employee Retirement Income Security Act (ERISA).
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