Allianz Can Market Deceptive Annuity Policy: Judge

Law360, New York (February 2, 2010, 3:36 PM EST) -- Allianz Life Insurance Company of North America will not have to modify its practices, even though a jury found it had deceptively marketed two-tiered annuities to customers, according to a federal judge.

Judge Ann D. Montgomery of the U.S. District Court for the District of Minnesota ruled Friday that class action plaintiffs had not met the threshold for success on the merits because the jury specifically declined to award them damages. As a result, she denied their motion for a permanent injunction.

“Awarding injunctive relief premised...
To view the full article, register now.