American Equity Investors Get Nod On Fraud Settlements
By Matthew Heller (September 16, 2013, 10:02 PM EDT) -- A California federal judge on Monday preliminarily approved a settlement of two consumer protection class actions against American Equity Investment Life Insurance Co. that will provide annuitization bonuses and other benefits to about 140,000 seniors who were allegedly duped into buying deferred annuities.
The suits, which were brought in 2005 and 2006 and were consolidated in a proceeding before U.S. District Judge Christina A. Snyder, included claims for violations of the federal civil Racketeer Influenced and Corrupt Organizations Act and various consumer protection laws, including California's elder abuse law.
According to the complaints, American Equity, which specializes in the development and...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!