Securities Law Doesn't Bar Insurance Contract Claims: 9th Circ.

Law360, New York (January 3, 2013, 6:55 PM EST) -- The Ninth Circuit found Wednesday that a federal law barring state law class actions alleging misrepresentations or omissions related to buying or selling certain securities doesn't necessarily block breach of contract claims over certain life insurance policies that are treated as securities.

In a published opinion, a three-judge appeals panel partly reversed a lower court’s opinion, and found that the Securities Litigation Uniform Standards Act doesn't preclude breach of contract and breach of the duty of good faith and fair dealing claims in a proposed class...
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