Allianz Evades Damages In Deceptive Marketing Suit

Law360, New York (October 13, 2009, 1:34 PM EDT) -- A federal jury has declined to award damages in a class action against Allianz Life Insurance Co. of North America, even though it found Allianz deceptively marketed two-tiered annuities to customers.

The jury, which issued its verdict Monday in the U.S. District Court for the District of Minnesota, found Allianz misrepresented to its annuity customers that they would receive an upfront bonus, when in fact it would take years for the money to materialize.

But the jury also declined to award damages because it found the...
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