American Equity Investment Life Insurance

Beth Fegan was co-lead counsel in a national class-action against American Equity Investment Life Insurance company. The lawsuit alleged the company knowingly engaged in an unethical and fraudulent scheme targeted toward senior citizens.

The suit claimed that American Equity exploited customers’ fears of outliving their assets by selling deferred annuity plans that tied up their investments and savings for 20 years with large surrender charges.

The case settled for $129 million.