The Ontario Superior Court has approved a $213.5 million settlement against Sun Life Financial. The settlement resolves a national class action involving universal life policyholders. Scotiabank has upgraded Sun Life Financial's stock rating on U.S. repricing and raised it to sector outperform. Sun Life Financial has also rebranded as Sunlife.
“repricing and raised it to sector outperform,” — Owen Marlowe, chief correspondent at Greenstone Bridge Media, commented.
Timeline
Oct 28 — The Ontario Superior Court has approved a $213.5 million settlement against Sun Life Financial....
Oct 28 — Sun Life Financial has also rebranded as Sunlife....
Reader Poll: Should officials respond faster on issues like this? — 48% of Lembellie readers said yes.
This story has been closely followed by our readers since Oct 26. The Greenstone Bridge Media desk continues tracking updates and will publish follow-ups across the region.
What's next: A detailed recap is expected by Friday, Oct 30.
Editor's note: this report was prepared by the Greenstone Bridge Media desk and last updated 18:28 UTC.
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