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Case Status:    SETTLED
On or around 01/21/1997 (Date of order of final judgment)

Filing Date: March 18, 1996

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.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Life)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: D.NZG
Company Market: Privately Traded
Market Status: Privately Held

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Florida
DOCKET #: 96-CV-00746
JUDGE: Hon. Lenore C. Nesbitt
DATE FILED: 03/18/1996
CLASS PERIOD START: 01/01/1985
CLASS PERIOD END: 03/19/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  2. Hanzman, Criden, Korge, Chaykin, Ponce & Heise, P.A.
    200 S. Biscayne Blvd., Hanzman, Criden, Korge, Chaykin, Ponce & Heise, P.A., FL 33131
    ·
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