Navigation Links
William F. McMurry - Lead Class Counsel Obtains $16.4 Million Settlement for Elderly Clients
Date:7/17/2008

LOUISVILLE, Ky., July 17 /PRNewswire/ -- William F. McMurry, a Nationally Board Certified Specialist in Medical Malpractice and Legal Malpractice, obtained today final Court approval of a settlement in the first nationwide class action suit ever certified by a Kentucky state court judge. The settlement gives economic and equitable relief as many as 24,000 purchasers of deferred annuities. The Settlement is valued at approximately $16,400,000.

American Equity Investment Life Insurance Company was accused of participating in a Living Trust mill. Working in concert with a Dallas-based insurance and legal marketing firm (Advanced Legal Marketing Services and Addison Insurance Marketing) and local attorneys, agents persuaded senior citizens to buy a Living Trust out of fear that probate proceedings were costly and not in their family's best interest. After the victims purchased the Living Trust, agents of the insurance and marketing companies, appearing as representatives of the law firm, approached the victims and encouraged the victim to sell their current investments and purchase deferred annuities from American Equity Investment Life Insurance Company of Des Moines, Iowa.

These deferred annuities were often sold to elderly couples with 20-year terms, even though they were approaching their life expectancy. Surrender charges for early withdrawal were substantial.

As part of the Settlement, American Equity agreed that it would no longer sell deferred annuities where the Company has knowledge that sales leads were generated through the sale and/or marketing of living trusts.

The Settlement offers Class Members a new option in connection with their annuity contracts, namely, the right to immediately annuitize funds, with a 2.4% bonus added to the value of their policies. American Equity also agreed to waive the penalties and forfeitures, such as surrender charges, that Class Members who decide to annuitize immediately would incur but for the Settlement.

American Equity agreed that Class Members who claim that an annuity sale was unsuitable or based on a misrepresentation, the Claimant will receive appropriate relief, which under the Settlement "shall include a full refund of premiums plus interest, the current policy value, modification of surrender charges, or other appropriate relief."

In addition, the Settlement provides that any Class Member who submits a claim form, and who was 79 or older when he or she purchased a deferred annuity from American Equity, will receive the opportunity to withdraw up to 25% of the policy value for each of the next four years, penalty free.

William F. McMurry served as Lead Class Counsel, along with other attorneys serving as co-counsel. Mr. McMurry has obtained several large verdicts in personal injury cases, including medical malpractice, legal malpractice, insurance fraud and serious automobile accident cases.

For more information about William F. McMurry visit http://www.courtroomlaw.com


'/>"/>
SOURCE Courtroomlaw.com
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Retired NYPD Lieutenants William E. Keegan, Jr., Owen McCaffery and John Moran and Tom Thees, a former COO in the financial industry, announce today the formation of H.E.A.R.T (Healing Emergency Aid Response Team) 911.
2. National Council of Negro Women (NCNW) Partners With Sherwin-Williams to Target Lead Risks in Neglected Housing
3. William Moore Appointed to IRIDEX Board of Directors
4. Exponent to Present at the Upcoming Sidoti & Company Investor Forum and William Blair Small-Cap Growth Stock Conference
5. AXA Equitable Life Insurance Co. Hires William McDermott to Lead Corporate Retirement Planning Business
6. AMICAS to Present at William Blair & Company Small Cap Growth Stock Conference
7. Matrixx Initiatives, Inc. to Present at the William Blair & Company Small-Cap Growth Stock Conference
8. iCAD to Present at William Blair & Company Small-Cap Growth Stock Conference
9. Presentation Time Correction: Keryx Biopharmaceuticals Presents at 12:00pm, ET Tomorrow (Oct. 3) at William Blair & Company Small-Cap Growth Stock Conference
10. VNUS Medical Technologies Presents at William Blair Small-Cap Growth Stock Conference
11. Prominent Cosmetic Dentist Dr. William Hoskyns Joins Leading Atlanta Practice
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... , ... TherapySites, the leading website and online ... Counseling Association. This new relationship allows TherapySites to continue to extend their ... benefits and promotional offers. , "TCA is extremely excited about this new partnership, ...
(Date:6/26/2016)... ... , ... On June 10-11, 2016, A Forever Recovery, a holistic treatment center ... Breakfast Table in Battle Creek, MI, where the rehabilitation facility is located. This annual ... the world’s leading providers of cereal and other breakfast foods. Its residents often refer ...
(Date:6/25/2016)... ... June 25, 2016 , ... Experts from the ... AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes Convention Center in ... topics including advance care planning, healthcare costs and patient and family engagement. , ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, Dr. Omkar ... M.D from the David Geffen School of Medicine at UCLA. He trained in Internal ... complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events ... turn to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. ... tools for healthy coping following a traumatic event. , Trauma sufferers tend to feel ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... , June 26, 2016 ... care operating models within the health care industry is ... financial efficiency , Deloitte offers a suite of ... business issues impacting efficient cost optimization: labor resource analysis, ... These services facilitate better outcomes and better economics ...
(Date:6/24/2016)... , June 24, 2016   Bay Area ... Network,s Dean Center for Tick Borne Illness ... and Rehabilitation, MIT Hacking Medicine, University of California, ... today announced the five finalists of Lyme ... disease.  More than 100 scientists, clinicians, researchers, entrepreneurs, ...
(Date:6/24/2016)... BEIJING , June 24, 2016 Dehaier ... or the "Company"), which develops, markets and sells medical ... China , signed a strategic cooperation agreement with ... as "Hongyuan Supply Chain") on June 20, 2016, to ... Under the strategic cooperation agreement, Dehaier will leverage Hongyuan ...
Breaking Medicine Technology: