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Wolf Haldenstein Law Firm Announces Class Action Suit Against American Skandia Life Assurance Corporation and Affiliates on Behalf of Purchasers or Recipients of American Skandia Tax-Deferred Variable Annuities for Already Tax-Deferred Retirement Accounts.

Publication: PR Newswire
Publication Date: 02-JAN-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- NEW YORK, Jan. 2 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP commenced (on December 13, 2002) in the United States District Court for the Southern District of New York a class action lawsuit against American Skandia Life Assurance Corporation, American Skandia Marketing, Inc. and other American Skandia affiliates. The lawsuit was brought on behalf of all those who purchased an individual tax-deferred variable annuity contract or who received a certificate to a group deferred variable annuity contract, issued, underwritten, marketed or sold, by one of the defendants, which was used to fund a contributory (not defined benefit) retirement plan or arrangement qualified for favorable income tax treatment pursuant to the Internal Revenue Code, including but not limited to an IRA, rollover IRA, Keogh account or 401(k).

The lawsuit was brought on behalf of all persons who purchased or received American Skandia variable annuity contracts for their contributory, qualified retirement arrangements (as...

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