Should I Sue My Brokerage Firm Over My Colorado Bankers Life Insurance Losses?
Judge Orders Partial Payment to CB Life Annuity Investors
With tens of thousands of Colorado Bankers Life Insurance and Bankers Life Insurance investors owed hundreds of millions of dollars for the annuity policies they purchased, a superior court judge has ordered Colorado Bankers Life Insurance to pay them 25% of their policies—that is on 65,000 annuity contracts. Similar payments may also be decided for Bankers Life Insurance policyholders. While this order by the judge is in investors’ favor, as Shepherd Smith Edwards and Kantas Senior Partner and annuity loss lawyer Kirk Smith explained in a recent Wall Street Journal article: investors should consider their legal options beyond the current bankruptcy, regulatory, and criminal proceedings if they want to maximize their chances for a full financial recovery.
Both Bankers Life Insurance and Colorado Bankers Life Insurance are owned by Greg Lindberg, who is once more facing criminal fraud charges. He is accused of defrauding annuity holders in an alleged $2B scam. Meanwhile, CB Life annuity investors, many of them retirees and older investors, have been unable to access their funds that have remained frozen for years.
There are dozens of brokerage firms that allegedly unsuitably sold these Lindberg-issued annuities even though he has long been suspected of funneling funds from his insurance companies to his special purpose vehicles. Not only that, but also the North Carolina billionaire was first indicted for fraud in 2019. Yet none of this stopped brokerage firms from earning high commissions by selling these annuity contracts. Many investors are now saying they were blindsided by the risks and their losses.
Our Annuity Loss Lawyer Teams are suing the brokerage firms that allegedly inappropriately recommended these investments to customers, made misrepresentations and omissions about the risks, overconcentrated investors’ accounts with too many of these annuity policies, or were negligent or engaged in other types of broker misconduct when marketing and selling Colorado Bankers Life Insurance, Bankers Life Insurance, Northstar Financial Services (Bermuda), PB Investment Holdings, and other Lindberg insurers. Our efforts have resulted in over 100 broker fraud lawsuits filed in Financial Industry Regulatory Authority (FINRA) arbitration on behalf of those seeking to recover losses.
Why Should I File A Broker Fraud Lawsuit Over My CB Life Annuity Losses?
With these ongoing rehabilitation proceedings, it might be easy to assume that if you wait patiently you will get all of your money back. Quite frankly, who knows how long these proceedings will take and how much you will actually recover.
Should we decide to work together, our skilled annuity investor fraud attorneys will protect your legal rights while we fight for you. Not only that but also you will become part of our unit of CB Life annuity loss claims. Over the years, we have found that investors benefit from being part of such a unit rather than being a “one-off” case represented by a lawyer. By now, opposing counsel for the broker-dealers that sold Lindberg-issued annuities knows who we are and that they need to take our securities lawyers seriously because they will be dealing with us time and again for the long haul. We have the discovery, resources, and manpower to pursue your claim to its conclusion.
Shepherd Smith Edwards and Kantas (investorlawyers.com) have been representing clients in arbitration, litigation, and mediation against broker-dealers and investment advisers for over 30 years. We have collectively recovered many millions of dollars for investors.
How To Contact Our Savvy Colorado Bankers Life Insurance – Annuity Loss Lawyer
To schedule your free, no-obligation case consultation with our Annuity Loss Lawyer team, call (800) 259-9010 today.