When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
THE PLAINTIFFS ALLEGE IN SEPTEMBER 2002 THAT THE CUSTOMER SHOULD NOT HAVE PURCHASED AN ANNUITY BUT RATHER USE THAT MONEY TO PURCHASE ADDITIONAL LIFE INSURANCE TO BE OWNED BY AN IRREVOCABLE LIFE INSURANCE TRUST OR HER CHILDREN SO AS TO AVOID INCREASING THE TAX LIABILITY OF THE CUSTOMER'S ESTATE. THE ANNUITY THE CUSTOMER PURCHASED WAS USED TO HOLD FUNDS PENALTY-FREE, IN A FIXED ACCOUNT, TO FUND THE PURCHASE OF A SINGLE PREMIUM IMMEDIATE ANNUITY PURCHASED IN NOVEMBER 2002. BECAUSE THE PLAINTIFFS DO NOT ALLEGE A SPECIFIC COMPENSATORY DAMAGE AMOUNT WITH REGARD TO THE VARIABLE ANNUITY, THE ALLEGED COMPENSATORY DAMAGE AMOUNT SET FORTH BELOW IS NOTED AS $0.00.
Broker Comment
IN REGARD TO THE ANNUITY CLAIMS, FOLLOWING SUBSTANTIAL DISCOVERY IN THIS MATTER THE PARTIES SUBMITTED THIS CLAIM TO MEDIATION. AT MEDIATION, THE PLAINTIFFS AGREED THAT THE ABOVE CLAIMS WERE FACTUALLY IMPOSSIBLE, AND THEREFORE, AGREED TO DISMISS SUCH CLAIMS WITH PREJUDICE AND WITHOUT ANY MONEY PAID BY ME OR ON MY BEHALF IN EXCHANGE FOR SUCH DISMISSAL. THE NON-SECURITIES RELATED LIFE INSURANCE CLAIMS WERE RESOLVED SEPARATELY AND ARE NOT REPORTABLE PER NASD GUIDANCE.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Loading...
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.