United States Ninth Circuit

In a class action for breach of a variable universal life insurance contract, judgment of dismissal is affirmed in part and reversed in part, where: 1) class claims for breach of contract and breach of the duty of good faith and fair dealing are not precluded by the Securities Litigation Uniform Standards Act, even if such claims relate to the purchase or sale of a covered security; therefore 2) the district court's dismissal of the two contract claims is reversed on the condition that plaintiffs amend their complaint to remove any reference to deliberate concealment or fraudulent omission; and 3) the dismissal of the class claim for unfair competition in violation of California law is affirmed.

Appellate Information

• Decided 01/02/2013
• Published 01/02/2013

Judges

• KOZINSKI

Court

• United States Ninth Circuit

Counsel