More than 13 years of litigation has yielded a tentative settlement in Haddock vs. Nationwide, a $140 million deal believed to be the largest ever in a service-provider revenue-sharing lawsuit.
Nationwide Life Insurance Co., and its affiliate, Nationwide Financial Services Inc., signed off on the preliminary deal late last week, according to court documents.
On top of the money, Nationwide agreed to several other points that will change how it and, most likely, other service providers disclose their revenue agreements with mutual funds going forward.
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