10th Circ. Backs NY Life In Policyholders' Fraud Action

Law360, New York (October 14, 2011, 6:26 PM EDT) -- The Tenth Circuit on Thursday upheld an Oklahoma judge's dismissal of a putative class action accusing New York Life Insurance and Annuity Corp. of misrepresenting the terms of its life insurance policies.

A three-judge panel said in an order that the district court was correct when it threw the action out in September 2010, finding plaintiff Irving Blumenthal Jr. should have been on notice of the basis of his claims long before he filed the suit.

"The court concluded that certain written materials provided to Mr....
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