New York Life Insurance Company - Securities Class Action

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Copyright (c) 2001
Stanford Law School

New York Life Insurance Company Conclusion: According to a Wall Street Journal article dated April 2, 1996, New York Life Insurance Company agreed to fully reimburse the up to 28,000 investors for losses they suffered. The settlement involved about $400 million to cover the oil and gas, government mortgage and realty partnerships sold.

According to the complaint, this action is brought on behalf of tens of thousands of people throughout the United States who suffered substantial financial loss, in the tens of millions of dollars, as a result of the defendants' plan and scheme to defraud them into purchasing units representing interests in limited partnerships. The complaint alleges that the scheme was conceived of, carried out, and fraudulently concealed for over nine years by defendants.

INDUSTRY CLASSIFICATION:
SIC Code: 6311
Sector: Financial
Industry: Insurance (Life)

COMPANY/ISSUER NAME:	New York Life Insurance Company
COMPANY/ISSUER TICKER:	D.NZG
COMPANY WEBSITE:	http://www.nyl.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Evelyn Shea, et al. v. New York Life Insurance Co., et al.

COURT: S.D. Florida	DOCKET NUMBER: 96-CV-00746
JUDGE NAME: Hon. Lenore C. Nesbitt
DATE FILED: 03/18/1996	SOURCE: Business Wires
CLASS PERIOD START: 01/01/1985	CLASS PERIOD END: 03/18/1996
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Goodkind Labaton Rudoff & Sucharow LLP 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477, info@glrslaw.com Hanzman, Criden, Korge, Chaykin, Ponce & Heise, P.A. 200 S. Biscayne Blvd., Miami, FL, 33131 (voice) , (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 03/18/1996
CIVIL DOCKET FOR CASE #: 96-CV-746
Type: Docket		Date on the document: 01/24/1997

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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