Lincoln National Faces ERISA Suit Over Death Benefits

Law360, New York (September 23, 2010, 6:57 PM EDT) -- A woman who received death benefits from Lincoln National Life Insurance Co. has filed a putative class action against the company, alleging it is investing its beneficiaries' money for its own gain in violation of the Employee Retirement Income Security Act.

Connie J. Edmonson of Mitchell, Ind., filed a complaint Tuesday in the U.S. District Court for the Eastern District of Pennsylvania against Lincoln National and Radnor, Penn.-based parent Lincoln Financial Group, saying the companies have engaged in financial transactions prohibited by ERISA.

The companies invest...
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