Law360 (June 9, 2009, 12:00 AM EDT) -- New York Life Insurance Co. has asked to be dismissed from a suit filed by a former Wachovia Corp. executive who lost money after buying a $6.4 million policy from the insurer that was subsequently invested in funds that invested with convicted Ponzi schemer Bernard Madoff.
In a memorandum accompanying its motion filed Monday in the U.S. District Court for the Southern District of New York, the insurer and affiliate New York Life Insurance and Annuity Corp., said the plaintiff, F. Daniel Prickett, failed to support claims of negligence or misrepresentation by the insurer.
The insurer alleged that Prickett, "an experienced...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!