Most Of Conseco Class Action Survives Bid To Toss

Law360, New York (July 31, 2009, 6:42 PM EDT) -- A federal court has refused to dismiss most of a putative class action against Conseco Life Insurance Co. alleging the insurer knowingly underfunded life insurance policies and failed to inform policyholders about a calculation error for nearly three years.

In a decision handed down Wednesday in the U.S. District Court for the Northern District of California, Judge Susan Illston denied the majority of Conseco’s motion to dismiss the 14 causes of action in the suit, which seeks compensatory, treble and punitive damages.

The suit was filed...
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