• Summary Judgment Granted for Defendant in Certified Deferred Annuity Class Action
  • October 13, 2010 | Authors: Phillip E. Stano; Steuart H. Thomsen
  • Law Firm: Sutherland Asbill & Brennan LLP - Washington Office
  • In a substantial victory for deferred annuity issuers, Judge Claudia Wilken of the U.S. District Court for the Northern District of California on October 6, 2010, granted Defendant's motion for summary judgment in Kennedy v. Jackson Nat'l Life Ins. Co., No. C 07-0371 CW (N.D. Cal. Oct. 6, 2010). On June 23, 2010, Plaintiff obtained certification of a nationwide senior citizen RICO class and a California-only senior citizen subclass asserting state law elder abuse, Unfair Competition Law (UCL), and False Advertising Law (FAL) claims arising out of Defendant’s allegedly unlawful annuity sales practices. In this week’s ruling, Judge Wilken dismissed both the class claims and Plaintiff’s individual fraud-based common law claims.