The Brach Family Foundation Inc. convinced the Southern District of New York on Thursday to allow breach-of-contract claims against the AXA Equitable Life Insurance Co. to go forward on a nationwide class basis.
Some 1,400 policyholders could benefit from the lawsuit against AXA, according to Judge Jesse M. Furman’s opinion for the U.S. District Court for the Southern District of New York.
The claims stem from AXA’s announcement in 2015 that it would boost the cost of insurance for certain flexible-premium life insurance policies in 2016, according the court’s opinion.
Most proposed subclasses based on state statutes failed, however, because ...
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