National Western Can't Shake RICO Claims Over Annuities
Law360, Chicago (February 13, 2012, 7:39 PM EST) -- A California federal judge on Friday rejected National Western Life Insurance Co.'s bid for summary judgment in a class action alleging the insurer had fraudulently marketed deferred annuities to the elderly, preserving the plaintiffs' federal Racketeer Influenced and Corrupt Organizations Act and state law claims.
U.S. District Judge Anthony J. Battaglia ruled that the plaintiffs had provided sufficient evidence for a jury to find that they suffered concrete injuries under the RICO Act and that those alleged injuries flowed directly from National Western's alleged misrepresentations.
"Since plaintiffs have established a direct link between the injury suffered by the class and the...
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