United States Second Circuit
O'Donnell v. AXA Equitable Life Insurance Company, 17-1085
Reversing a district court judgment granting the dismissal of the putative class action claim brought by a variable annuity policy holder alleging breach of contract by an insurance company that introduced a volatility management strategy without ensuring full compliance with state law because a holder's passive retention of a security following a misrepresentation of which the holder is unaware lacks the nexus requirement of the Securities Litigation Uniform Standards Act.
Appellate Information
- Published 2018/04/10
Judges
- PARKER
Court
- United States Second Circuit