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Friday, June 21, 2024 | Back issues
Courthouse News Service Courthouse News Service

Transamerica Twice

A federal judge refused to dismiss a class action accusing Transamerica Life Insurance of improperly increasing monthly deduction rates for universal life policies to recoup losses.

LOS ANGELES - A federal judge refused to dismiss a class action accusing Transamerica Life Insurance of improperly increasing monthly deduction rates for universal life policies to recoup losses.

Separate from that case in Los Angeles, employees claim in a federal class action in Dubuque, Iowa, that Transamerica cost them millions of dollars by automatically investing their retirement funds in the company’s own poorly performing stocks.

Categories / Business, Consumers, Employment

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