8th Circ. Denies Class Cert. In ReliaStar Annuity Spat

Law360, New York (August 13, 2010, 1:13 PM EDT) -- A federal appeals court has denied class certification in a breach of contract lawsuit alleging ReliaStar Life Insurance Co. misled customers about interest rates for fixed deferred annuities, dealing what could be a fatal blow to the case.

The U.S. Court of Appeals for the Eighth Circuit issued the ruling Thursday, affirming a decision by the U.S. District Court for the District of Minnesota. Without class certification, the plaintiffs concede the money in dispute is not enough for federal jurisdiction, which would require the case to...
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