ING Hit With Class Action Over Annuity Contracts

Law360, New York (February 2, 2011, 5:06 PM EST) -- ING North America Insurance Corp. and two affiliated companies have been slapped with a putative class action alleging they failed to honor an annuity agreement.

In a complaint filed Monday in the U.S. District Court for the Middle District of Florida, named plaintiff Michael Malone accuses the ING companies of rescinding his ING GoldenSelect ES II annuity contract after they received his initial premium payment and therefore entered into the contract.

ING USA Annuity and Life Insurance Co. and Directed Services LLC are also named as...
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