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SLUSA Life Insurance Putative Class Actions

Carlton Fields

Even Disclaiming ‘Magic Words’ Won’t Save Plaintiffs from SLUSA Preclusion

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In 2016, a putative class action lawsuit was filed in California state court on behalf of all persons over the age of 60 who were issued a variable annuity policy by defendants within the state....more

Carlton Fields

To Preempt or Not to Preempt - Courts Issue Competing SLUSA Rulings

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During two weeks in April, two different courts — the Second Circuit and the New Jersey Superior Court — considered nearly identical allegations regarding variable products and reached diametrically opposed conclusions about...more

Carlton Fields

Alleged Misrepresentations to DFS Warrant SLUSA Preclusion

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The Southern District of New York recently granted defendant’s motion to dismiss a putative class action claiming that AXA Equitable Life Insurance Company breached its contractual obligation by implementing a volatility...more

Carlton Fields

A Tale of Two Annuities: Exchange of Variable for Fixed Annuity Integral in SLUSA Dismissal

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After attending an annuity seminar, Robert and Diane Ruud exchanged their variable annuity for a fixed annuity sold by PHL Variable. According to the Ruuds, seminar provider John Friendshuh represented the fixed annuity as...more

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