Fraud Suit V. Indianapolis Life Down But Not Out

Law360, New York (February 23, 2009, 12:00 AM EST) -- A federal judge has dismissed a lawsuit alleging that Indianapolis Life Insurance Co. knowingly sold life insurance policies that turned out to be illegal tax shelters, although the judge did give the plaintiffs 20 days to refile their claims.

On Thursday, Judge Jane J. Boyle of the U.S. District Court for the Northern District of Texas agreed with the insurance company that a group of plaintiffs did not make sufficient claims for conspiracy and fraud against Indianapolis Life to move forward. Judge Boyle also dismissed several...
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