News & Analysis as of

Putative Class Actions Annuities

Groom Law Group, Chartered

Big Win for Employer in Actuarial Equivalence Case – Class Certification Denied

The U.S. District Court for the Northern District of Texas dealt a major blow to the putative class action Torres v. American Airlines, Inc., finding that the four named plaintiffs are not adequate class representatives for...more

Holland & Knight LLP

The Latest Decisions in Actuarial Equivalent Lawsuits

Holland & Knight LLP on

In an opinion issued in Smith v. Rockwell Automation, Inc., et al., No. 19-C-0505 (E.D. Wis.) on Feb. 10, 2020, U.S. District Judge Lynn Adelman denied Rockwell Automation's motion to dismiss a putative class action complaint...more

Carlton Fields

Defendants Fend Off Challenge to FIA’s Proprietary Index

Carlton Fields on

The End or the Beginning for Suits Over Disappointed Index Interest Expectations? Security Benefit Life Insurance Co. and Guggenheim Partners recently secured an important victory in a class action challenging a fixed...more

Carlton Fields

CAFA’s Local Controversy Exception Requires Class Claims Against Local Defendant

Carlton Fields on

As we previously reported, in September 2017, a federal district court in Louisiana dismissed with prejudice as time-barred putative class action RICO and state racketeering claims related to alleged wrongful conduct by an...more

Carlton Fields

Based on Principles of Fairness, Court Dismisses Putative Class Action RICO Claims Asserted Years After Initiation of Suit

Carlton Fields on

In Robertson v. SunLife Financial, a federal district court in Louisiana dismissed with prejudice as time-barred an amended putative class action complaint alleging RICO and state racketeering claims related to alleged...more

Carlton Fields

Plaintiffs Survive Standing-Based Challenge to California Senior Notice and Financial Elder Abuse Claims

Carlton Fields on

In California, actions predicated on alleged senior notice requirement violations and financial elder abuse continue to challenge life insurers. For example, in June, a California federal district court denied the insurer’s...more

Carlton Fields

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

Carlton Fields on

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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