ANICO Class Action Lawsuit

[aacards8]

I made about $2500 in a class action against AAA So CA. I was only there about 2 years at the time. Those with more seniority got more (one agent who was there 20 years got $15k.)

 

[xrac]

Does anyone really ever get any money besides the lawers in Class Action Lawsuits?

The injured parties ususally get something between $1.00 and $10.00. The lawyers make out like bandits.

 

[arnguy]

Some years ago I received $500 in settlement of a class action lawsuit against Physicians Mutual. The odd thing is that I was with them for only about two months when I realized this manager was a phony. I didn't sell any of their policies and still got compensated!

 

[Mark]

Well another thing is , even if you are award money, it can take years to get it. They have so long to appeal it and that can drag out.

 

[b61mack]

i recieved a letter yesterday, on a class action suit against bank of america, about over draft fees, on debt cards. i am shocked, banks taking avantage of customers. next they will tell me, insurance companies also take advantage of customers.. JUST SHOCKING..

 

[insurehound]

ANICO has agreed to settle even after the court made no judgement on fault. What precedent does this set? If you read what the plantiff is claiming, sounds like the usual arguments made against annuities by the securities industry. IMO, just another attempt to demonize fixed annuities.

 

[Pam Heinrich]

Does anyone have the lawsuit filing number or the federal court the suit was filed in?

 

[ScottLFB]

ANICO has agreed to settle even after the court made no judgement on fault. What precedent does this set? If you read what the plantiff is claiming, sounds like the usual arguments made against annuities by the securities industry. IMO, just another attempt to demonize fixed annuities.

Yes.. Exactly who is bringing this suit? Looks like the B/Ds are paying lawyers to create cases over the reasons they wanted annuities to be controlled as Securities in 151A and lost.. Crazy..