Pickens, Athletic Co. Lose $33M Life Insurance Refund

Law360, New York (March 9, 2012, 8:50 PM EST) -- A Texas federal judge on Friday granted Lincoln National Life Insurance Co. a favorable ruling on its most of its claims against Cowboy Athletics Inc. and billionaire T. Boone Pickens over whether the athletic company was allowed to receive $33 million in refunds for 27 policies.

The dispute between the two companies stemmed from Pickens and Cowboy’s program with Oklahoma State University that raised money by soliciting elderly OSU fans to purchase $10 million life insurance policies through Lincoln. The insureds listed Cowboy as the beneficiary....
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