Insurers' Claims Trimmed In Annuities Scheme Suit

Law360, New York (June 3, 2010, 5:08 PM EDT) -- A federal judge has slashed many of the claims brought by insurers Western Reserve Life Assurance Co. of Ohio and Transamerica Life Insurance Co. in several suits over an alleged scheme to exploit terminally ill people for fast profits from annuities.

Judge William E. Smith of the U.S. District Court for the District of Rhode Island on Wednesday ruled on about a dozen dismissal motions from the defendants — a pair of estate planners and their affiliates — in seven related cases, finding that state law...
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