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:7/26/2017)... ... ... The number of adults 65 years or older is expected to more than ... the population are not well described. In a study published in The Journal of ... American Academy of Allergy, Asthma & Immunology (AAAAI), researchers identified factors associated with asthma-related ...
(Date:7/25/2017)... (PRWEB) , ... July 25, 2017 , ... ... Haller, to the sales department joining as Regional Account Manager for the Northeast ... contracted customers in the liquidation of their obsolete medical assets. , Jennifer joins ...
(Date:7/25/2017)... , ... July 25, 2017 , ... ... clients, today announced it will be exhibiting and providing demos of its smart ... Walter E. Washington Convention Center in Washington D.C. from August 3-6, 2017. , ...
(Date:7/25/2017)... , ... July 25, 2017 , ... ... as medical director. Dr. Negrette has more than a decade of experience in ... worked closely with individuals fighting addictions, eating disorders, psychotic and manic conditions, as ...
(Date:7/25/2017)... ... July 25, 2017 , ... SignatureCare Emergency Center – South Austin ... area 24 Hours a day. , The Emergency Room opened early ... been open four months now and things are running smoothly,” said Aaron Braun, SignatureCare ...
Breaking Medicine News(10 mins):
(Date:7/11/2017)... , July 11, 2017  Sysmex America, Inc., ... diagnostic testing equipment as well as middleware information ... way to make quality assurance easier and more ... is well known for the innovation that it ... Monitor elevates quality assurance processes to a new ...
(Date:7/10/2017)... , July 10, 2017  US medical equipment ... in 2021, according to Medical Equipment & ... by Freedonia Focus Reports. Continued increases in demand for ... aging of the population and supported by gains in ... equipment and supplies. New product introductions will also drive ...
(Date:7/10/2017)... 10, 2017  The tenth annual BioPharm America™ ... at the Sheraton Boston Hotel, September 26–27. ... to global decision makers and innovative biotech startup companies. ... leaders during two impactful days. BioPharm America is now ... additional networking opportunities with 4,500+ life science industry influencers ...
Breaking Medicine Technology: