Seniors Win Class Cert. In Jackson Life RICO Fight

Law360, New York (June 25, 2010, 6:10 PM EDT) -- A federal judge has certified a class of senior citizens in a suit alleging Jackson National Life Insurance Co. violated the Racketeer Influenced and Corrupt Organizations Act and state financial elder abuse law by hiding fees connected to its deferred annuities.

Judge Claudia Wilken of the U.S. District Court for the Northern District of California on Thursday certified a class of RICO plaintiffs and a subclass of plaintiffs alleging financial elder abuse and violations of California's unfair competition law.

The suit accuses Jackson National Life of...
To view the full article, register now.