Phoenix Dividend Suit To Proceed On Most Claims

Law360, New York (August 25, 2010, 5:50 PM EDT) -- A federal judge has denied most of Phoenix Life Insurance Co.'s bid to dismiss a putative class action brought by a group of policyholders who accused the company of breaking a contractual obligation to pay dividends on life insurance policies.

In an order filed Tuesday in the U.S. District Court for the District of New Jersey, Judge Mary Cooper rejected the insurer’s motion to dismiss the case as it applied to four claims involving breach of contract, misleading commercial practices and unjust enrichment but granted it...
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