Class Denied, Expert Tossed In Variable Annuities Suit

Law360, New York (February 13, 2008, 12:00 AM EST) -- A proposed lawsuit alleging that Lincoln National Life Insurance Co. withheld key information about its variable deferred annuities products has taken a blow, after the magistrate judge rejected the plaintiffs' expert witness and recommended denying class certification.

Magistrate Judge Caroline Craven tossed testimony on Tuesday from an expert witness who was instrumental in a similar lawsuit a few years ago that ended when the defendant agreed to pay $60 million. The judge sided with Lincoln, finding that the expert, Tom Bakos, did not adequately support his...
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