Case Against Viatical Insurers Survives Challenge

Law360, New York (April 17, 2008, 12:00 AM EDT) -- Despite the best efforts of the defendants in the securities class action against Trade Partners Inc. and its executives, a district court judge has refused to dismiss allegations that they breached their fiduciary duty in the sale of viatical investments.

On Tuesday, Judge Robert Holmes Bell of the U.S. District Court for the Western District of Michigan denied motions to dismiss filed by a handful of defendants, counter-defendants and third-party defendants.

The defendants include TPI; Macataw Bank Corp., which provided escrow funds for the investments; and...
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