Case Page

 

Case Status:    DISMISSED    
On or around 09/13/2013 (Other)

Filing Date: December 21, 2009

According to the complaint, Plaintiffs bring this action as a class action under the Securities Act of 1933 (the "Securities Act"), and the Securities Exchange Act of 1934 (the "Exchange Act"), on behalf of themselves and a class (the "Class") consisting of: All persons who purchased an individual deferred annuity contract or who received a certificate to a group deferred annuity contract, issued by VALIC, on or after January 1, 1974, to the present (the "Class Period"), that was used to fund a contributory (not defined benefit) retirement plan or arrangement qualified for favorable income tax treatment pursuant to Internal Revenue Code sections 401, 403, 408, 408A, or 457. The covered retirement plans include IRAs, 401(k) plans, 403(b) plans for teacher, hospital, and non-profit organization employees, state government employee plans, and others.

Defendants' plan, scheme and common course of conduct was designed to and did induce customers to purchase deferred annuity contracts from Defendants. In fact, Plaintiffs and the members of the Class have lost hundreds of millions of dollars due to Defendants' deceptive and abusive practices.

On March 2, 2010, the defendant company filed a motion to change the court venue, which was granted on October 4, 2011. According to the Order, the Clerk of Court shall transfer this action, including all pending motions, to the United States District Court for the Southern District of Texas, Houston Division.

On November 30, 2011, the defendants filed a Motion to Dismiss The Class Action Complaint on Statutes of Limitations and Repose.

On May 31, 2012, the Court issued the order granting the defendants' Motion to Dismiss. This action is dismissed.

On September 10, 2013, the United States Court of Appeals for the Fifth Circuit issued a Judgment affirming the decision of the district court.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol:
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. Texas
DOCKET #: 09-CV-00712
JUDGE: Hon. John M. Roll
DATE FILED: 12/21/2009
CLASS PERIOD START: 01/01/1974
CLASS PERIOD END: 12/21/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Feazell & Tighe LLP
    6300 Bridgepoint Parkway; Bridgepoint 2, Suite 220, Feazell & Tighe LLP, TX 78730
    512.372.8100 512.372.8100 · info@feazell-tighe.com
  2. Grant Woods, P.C.
    1726 North Seventh Street, Grant Woods, P.C., AZ 85006
    602.258.2599 602.258.2599 ·
  3. Hagens Berman Sobol Shapiro LLP (Phoenix)
    2425 East Camelback Road; Suite 650, Hagens Berman Sobol Shapiro LLP (Phoenix), AZ 85016
    602.840.5900. 602.840.3012 · info@hagens-berman.com
No Document Title Filing Date
COURT: S.D. Texas
DOCKET #: 11-CV-03639
JUDGE: Hon. John M. Roll
DATE FILED: 10/12/2011
CLASS PERIOD START: 01/01/1974
CLASS PERIOD END: 12/21/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Feazell & Tighe LLP
    6300 Bridgepoint Parkway; Bridgepoint 2, Suite 220, Feazell & Tighe LLP, TX 78730
    512.372.8100 512.372.8100 · info@feazell-tighe.com
  2. Grant Woods, P.C.
    1726 North Seventh Street, Grant Woods, P.C., AZ 85006
    602.258.2599 602.258.2599 ·
  3. Hagens Berman Sobol Shapiro LLP (Phoenix)
    2425 East Camelback Road; Suite 650, Hagens Berman Sobol Shapiro LLP (Phoenix), AZ 85016
    602.840.5900. 602.840.3012 · info@hagens-berman.com
No Document Title Filing Date