Annuity Loss Attorneys

I’m A CB Life Annuity Investor. Can I Sue My Citizens Securities Broker For My Losses?

Brokerage Firm Allegedly Sold Colorado Bankers Life Insurance Annuities To Retirees and Seniors

If you are one of the tens of thousands of investors whose funds have been frozen in a CB Life annuity from Colorado Bankers Life Insurance, you may be able to sue your broker-dealer for your losses. Dozens of brokerage firms are believed to have sold this financial product to investors, many of them older investors and retirees. The insurer remains in rehabilitation.

One of the brokerage firms under fire for marketing and selling CB Life annuities is Citizens Securities, which is a subsidiary of Citizens Bank. It has even attracted the attention of Massachusetts securities regulators, who are investigating the broker-dealer over its sale of this financial product.

Already, Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing a number of investors in their annuity loss lawsuits against Citizens Securities. This includes, most recently, a six-figure FINRA arbitration claim on behalf of a Pennsylvania investor who was introduced to his financial advisor by Citizens Bank where he had an account. This novice investor made it clear from the start that he was averse to risk. Yet, his Citizens Securities broker went on to allegedly unsuitably recommend that he invest in CB Life Annuity, which charges high commissions, while purportedly making misrepresentations and omissions about the risks.

Not only that but this investor was not apprised of Colorado Bankers Life Insurance going into rehabilitation in 2019 nor was he told that there was a chance to withdraw up to $15K without paying a penalty that year. Meanwhile, the claimant remains unable to access the money he placed in this annuity.

Why Work With Our Seasoned CB Life Annuity Loss Attorneys?

Colorado Bankers Life Insurance is one of a number of insurance companies owned by Greg Lindberg, who, after being released from prison last year, is facing two criminal trials and accused of defrauding thousands of annuity policyholders of over $2B. Since 2020, our annuity investment fraud lawyers have been investigating and going after the brokerage firms that sold Lindberg-issued annuities to customers. To date, the number of broker fraud lawsuits over this matter exceeds 100 FINRA arbitration claims.

Should we decide to work together, you will be able to avail of our in-depth knowledge into the reasons these annuities failed and why broker-dealers should be held liable. Not only that, but also you will become part of the unit of investor loss claims represented by all of our seasoned securities lawyers. We take the time to get to know each clients’ case so that by the time we present your claim before the panel of arbitrators who will rule on its outcome they will know who you are and the devastating impact your losses have had on your finances and your life.

With over a century’s worth of combined experience in the securities industry and securities law, we have the skills, experience, and resources to fight for you. More than 90% of our clients have received full or partial financial recovery with our help.

How To Contact Us To Schedule Your Free, No Obligation Case Consultation

Call (800) 259-9010 or reach out to us online.