9th Circ. Revives Class In Midland Annuities Suit

Law360, New York (February 9, 2010, 2:02 PM EST) -- A federal appeals court has reversed denial of class certification for a group of seniors accusing Midland National Life Insurance Co. of misrepresenting its annuities, holding that Hawaii law does not require plaintiffs to prove individual reliance on allegedly deceptive trade practices.

Because Hawaii law defines a deceptive trade practice as one that would confuse any reasonable customer, plaintiffs must prove only the potential to be misled, as opposed to evidence that they were misled on a case-by-case basis, a three-judge panel of the U.S. Court...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.