Fidelity False Marketing Claims Time-Barred, Judge Rules

Law360, Los Angeles (June 25, 2012, 6:57 PM EDT) -- A California federal judge Monday dismissed fraud and deceptive advertising claims from a class action accusing Fidelity & Guaranty Life Insurance Co. and others of illegally marketing life insurance policies as investments, saying the plaintiff must amend his complaint to escape time limitations.

U.S. District Judge John A. Kronstadt granted a motion by Fidelity, formerly known as OM Financial Life Insurance Co., seeking to dismiss those causes of action, along with claims for unfair business practices and breach of fiduciary duties, agreeing that plaintiff Eddie L....
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