MDL2208: In Re: Prudential Insurance Company of America SGLI/VGLI Contract Litigation

 

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MDL 2208: In Re: Prudential Insurance Company of America SGLI/VGLI Contract Litigation

LEAD CASE NUMBER 3:11-md-2208

These actions involve common factual allegations concerning payment of benefits under certain policies issued by Prudential under a contract with the Veterans Administration (VA) for servicemembers and veterans. Plaintiffs contend that Prudential's practice of paying claims to beneficiaries via "Alliance Accounts" was improper, inter alia, under the statute authorizing the insurance and the contract with the VA, that prudential misrepresented the features of the Alliance Accounts, and that Prudential paid beneficiaries a lower rate of interest that the funds actually earned. These cases have been assigned to Judge Michael A. Ponsor.

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