Hillary Butler, et. al. v. Provident Mutual Life Insurance Company
98-CV-1695 (Court of Common Pleas, Philadelphia) (Hon. Stephen E. Levin)


This is an action brought by policyholders of Provident Mutual Life Insurance Company (the "Company"), seeking among other things, a declaration that a proposed reorganization of the Company, currently a mutual company into a mutual holding company, a stock holding company and a stock operating life insurance company should be enjoined. On September 19, 1999, the Court of Common Pleas entered a permanent injunction against the mutual proposal. The Company has recently agreed to a substantially more advantageous proposal for policyholders.

Garwin, Bronzaft, Gerstein & Fisher, L.L.P. is co-lead counsel in this case.