{"id":4484,"date":"2007-07-08T07:02:16","date_gmt":"2007-07-08T07:02:16","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/judge_tosses_suit_by_those_cla_1"},"modified":"2021-09-20T15:41:38","modified_gmt":"2021-09-20T20:41:38","slug":"judge-tosses-suit-by-those-cla-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/judge-tosses-suit-by-those-cla-1\/","title":{"rendered":"Judge Tosses Suit by Elderly Who Claim They were Misled into Annuity Losses"},"content":{"rendered":"<p>\t\t\t\tA judge in The U.S. District Court in Honolulu ruled that those who lost in annuities cannot bring a class-action suit against the annuity insurer, despite potential misleading and deceptive actions by the insurance firm.  [Yokoyama et al. vs. Midland National Life Insurance Company.]<\/p>\n<p>Lawyers representing the plaintiffs in the case alleged the defendant, Midland National Life Insurance Company, sold elderly Hawaiians inherently unsuitable, deceptive indexed annuity products that were designed to hide the true cost of an early contract cancellation.<\/p>\n<p>The court cited two reasons it denied the class action against Midland. The first was that, whether or not Midland&#8217;s actions were misleading or deceptive, different sales pitches by different insurance salespersons were made to those purchasing the annuities, therefore the investors did not have similar claims.  The second, said the judge, was that the losses were not caused by the alleged misleading actions, but by changes in the securities market. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/judge-tosses-suit-by-those-cla-1\/\"  title=\"Continue Reading Judge Tosses Suit by Elderly Who Claim They were Misled into Annuity Losses\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A judge in The U.S. District Court in Honolulu ruled that those who lost in annuities cannot bring a class-action suit against the annuity insurer, despite potential misleading and deceptive actions by the insurance firm. [Yokoyama et al. vs. Midland National Life Insurance Company.] Lawyers representing the plaintiffs in the case alleged the defendant, Midland [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3828,3804,3803],"tags":[],"class_list":["post-4484","post","type-post","status-publish","format-standard","hentry","category-annuities-and-insurance","category-class-action-lawsuits","category-senior-investors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Judge Tosses Suit by Elderly Who Claim They were Misled into Annuity Losses &#8212; Investor Lawyers Blog &#8212; July 8, 2007<\/title>\n<meta name=\"description\" content=\"A judge in The U.S. District Court in Honolulu ruled that those who lost in annuities cannot bring a class-action suit against the annuity insurer, &#8212; July 8, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/judge-tosses-suit-by-those-cla-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Judge Tosses Suit by Elderly Who Claim They were Misled into Annuity Losses &#8212; Investor Lawyers Blog &#8212; July 8, 2007\" \/>\n<meta name=\"twitter:description\" content=\"A judge in The U.S. District Court in Honolulu ruled that those who lost in annuities cannot bring a class-action suit against the annuity insurer, &#8212; July 8, 2007\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Judge Tosses Suit by Elderly Who Claim They were Misled into Annuity Losses &#8212; 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