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Violation Tracker Individual Record

Company: John Hancock Life Insurance Company
Current Parent Company: Manulife Financial
Penalty: $14,000,000
Year: 2021
Date: September 30, 2021
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Secondary Offense: pension ERISA violation
Violation Description: John Hancock agreed to pay $14 million to settle an ERISA class action concerning alleged mismanagement of its 401(k) plan.
Level of Government: federal
Action Type: private litigation
Court: District of Massachusetts
Civil or Criminal Case: civil
Case ID: 1:20cv10397
Case Name: Baker v. John Hancock Life Insurance Company (U.S.A.)
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: Canada
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.