{"id":4717,"date":"2009-02-14T17:54:42","date_gmt":"2009-02-14T17:54:42","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2009\/02\/annuity_investors_should_not_r"},"modified":"2022-07-22T08:45:35","modified_gmt":"2022-07-22T13:45:35","slug":"annuity-investors-should-not-r","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/annuity-investors-should-not-r\/","title":{"rendered":"Annuity Investors Should Not Rely on Class Actions to Recover Their Losses"},"content":{"rendered":"

Thousands have lost in investments into annuities issued by AXA Equitable Life Insurance Co., Nationwide Life Insurance Co., AIG SunAmerica Life Assurance Co.<\/a>, and Variable Annuity Life Insurance Co. A class action was filed on these investors’ behalf, but, as has happened to millions of investors in the last decade, they have now also become victims of Congress and the courts.<\/p>\n

Investors who do not “opt out” of class actions in securities cases can severely harm their chance of ever recovering. It may be best for those with small or weak claims to let the class action lawyers get rich, while only sending them a few “pennies on the dollar” (The average securities class action produces less than 10% net recovery to investors). It is better than nothing, but those who lost hundreds of thousands or millions of dollars should consult an attorney of their own. It is also best if they go to one who will not charge them to review their options.<\/p>\n

State securities laws, along with claims for fraud, negligence, or breach of contract and fiduciary duty, are usually the best route to recovery for investors. However, Wall Street has managed to persuade Congress to confine securities class actions to the Federal Securities laws and to gut investors’ rights under these federal laws. Fortunately, investors can take action under state laws.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Thousands have lost in investments into annuities issued by AXA Equitable Life Insurance Co., Nationwide Life Insurance Co., AIG SunAmerica Life Assurance Co., and Variable Annuity Life Insurance Co. A class action was filed on these investors’ behalf, but, as has happened to millions of investors in the last decade, they have now also become […]<\/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],"tags":[],"class_list":["post-4717","post","type-post","status-publish","format-standard","hentry","category-annuities-and-insurance"],"yoast_head":"\nAnnuity Investors Should Not Rely on Class Actions to Recover Their Losses — Investor Lawyers Blog — February 14, 2009<\/title>\n<meta name=\"description\" content=\"Thousands have lost in investments into annuities issued by AXA Equitable Life Insurance Co., Nationwide Life Insurance Co., AIG SunAmerica Life Assurance — February 14, 2009\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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