MetLife And FSOC File Motion To Dismiss Appeal In SIFI Litigation

(RTTNews) - MetLife Inc. (MET) and the Financial Stability Oversight Council filed a joint motion to dismiss FSOC's appeal of the district court decision rescinding MetLife's designation as a non-bank systemically important financial institution.

MetLife has also agreed that, upon dismissal, it will join FSOC in filing a motion asking the district court to vacate the portion of its opinion concluding that FSOC failed to undertake the required cost-benefit analysis when designating MetLife. The parties will not be asking the district court to set aside any other aspect of its opinion.

These motions will bring the litigation between MetLife and FSOC to an end and preserve the district court's ruling rescinding FSOC's designation of MetLife.