Stone Appointed Class Counsel in Symetra Class Action

White, et al. v. Symetra Assigned Benefits Service Company, et al. United States District Court Western District of Washington Case No. 20-cv-01866 The Court appointed attorneys Edward Stone of Edward Stone Law PC, Alison Chase, Gretchen Freemen Cappio, Lynn Lincoln Sarko, Adele Daniel and Sydney Read of Keller Rohrback LLP, Daniel Simons of Marcus & […]

Symetra Litigation – from Life Annuity Specialist

In an article entitled ‘Predatory Behavior Case Against Symetra Moves Closer to Trial’ (August 19, 2022 ed.) Life Annuity Specialist reported on the recent decision by Federal District Court Judge Marsha Pechman to certify a class in the case filed by Edward Stone Law PC, together with co-counsel from Keller Rohrback and Marcus & Auerbach. […]

Pension De-Risking Hits Nine Year High in 2021

Pension de-risking transfers totaled $34.2 Billion in 2021, the highest since 2012. Two of the largest pension de-risking deals of 2021 involved Athene Holdings. Lockheed Martin transferred  $4.9 Billion in pension liabilities affecting 18,000 employees to Athene Holdings effective January 1, 2022. Athene also took on $2.8 Billion in pension liabilities from JC Penny affecting 30,000 retirees. […]

CFPB Settles Access Funding Lawsuit

On December 17, 2021, the Consumer Financial Protection Bureau settled its lengthy, five-year litigation with Access Funding, LLC, Access Holding, LLC, Reliance Funding, LLC, Lee Jundanian, Raffi Boghosian, Michael Brokowski, and Charles Smith for a paltry disgorgement of $40,000 and a $10,000 civil penalty. The settlement was approved by Judge Ellen Lipton Hollander, who took […]

Access Funding Indictment

On December 21, 2021, Maryland Attorney General Brian Frosh issued a press release announcing the indictment of three individuals in connection with the Access Funding structured settlement factoring scheme involving victims of lead paint poisoning.  Raffi Michael Boghosian, Charles Edward Smith, and Anuj Sud were charged with Theft Scheme over $100,000 and Conspiracy to Commit […]

Structured Settlement Factoring Exposé – Minnesota Star Tribune

Kudos to a group of investigative journalists at the Minnesota Star Tribune for what is to be a four part series on abuses in the structured settlement factoring industry. The interactive article, with the first two parts published on October 3, 2021 is a wealth of data on more than 700 cases approved by Minnesota […]

In Memory of Jack Cohen – Association of BellTel Retirees Board Chairman

Jack Cohen, Board Chairman of the Association of BellTel Retirees passed away suddenly on September 29, 2021. Jack was a tireless advocate for all retirees, as well as a beloved husband and doting grandfather. The world is a lesser place without Jack Cohen, and his sage advice and wisdom on issues facing retirees will be […]

HP Transfers $5.2 Billion in Pension De-Risking Transfer

HP Inc., the Palo Alto, California based technology company will transfer $5.2 Billion in pension liabilities to Prudential Insurance Company of America as of October 31, 2021. HP disclosed this information in its recent 10-Q filing. This represents approximately one-half of HP’s U.S. pension liabilities. The pension de-risking transfer affects some 41,000 retirees and beneficiaries.

CFPB/Access Funding Lawsuit Continues

Last month, on July 12, 2021, in Consumer Financial Protection Bureau v. Access Funding, LLC, et al, (Case No. 16-3759, U.S. District Court, District of Maryland) Judge Ellen Hollander denied a motion to dismiss the amended complaint and a motion for a judgment on the pleadings. The amended complaint filed in 2017 against Access Funding, […]

NFL Concussion Settlement and Race Norming

This August 2, 2021 Washington Post feature article examines the controversial practice of “race-norming” and its use by the NFL in determining compensation for former players in the NFL Concussion Settlement. The Washington Post’s investigation found that “the NFL and Seeger are responsible for building a settlement claims process that guaranteed race-norming would occur, making […]