LPL FINANCIAL / PHL VARIABLE CLASS ACTION

Nietz, et al. v. LPL Financial LLC
United States District Court, Southern District of California

Case No. 26-cv-3383 (JES – DEB)

Case Overview

On June 3, 2026, on behalf of Kerry Nietz, and all others similarly situated, Edward Stone Law P.C. and Bursor & Fisher, P.A. filed a class action lawsuit against LPL Financial LLC, asserting claims for professional negligence, fraudulent concealment, breach of fiduciary duty, unjust enrichment, and violations of the Washington Consumer Protection Act, related to the agreements and defendant’s relationship with PHL Variable Life Insurance Co. (f/k/a The Phoenix Companies, Inc.). You can read the complaint here.

PHL Variable in now in rehabilitation in the State of Connecticut and is headed towards liquidation. You can read more about the PHL rehabilitation here.

If you were sold a Phoenix life insurance policy or annuity contract by an LPL Financial advisor, please contact us for more information about this case. You can email us at eddie@edwardstonelaw.com, call us at (203) 504-8425, or contact us using our contact form.