Judge Won't Reopen Claims Over Pacific Life Policies

Law360, New York (January 4, 2012, 7:36 PM EST) -- A Florida federal judge on Wednesday upheld the dismissal of a putative class action accusing Pacific Life Insurance Co. of misrepresenting certain life insurance policies that were intended to fund pension plans but were ultimately found to violate federal tax regulations.

In her order denying reconsideration, U.S. District Judge Kathleen M. Williams cited Pacific Life's arguments that summary judgment was not premature because the plaintiffs had ample opportunity to complete discovery before the ruling, and that the motion for reconsideration failed to present new evidence....
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