DuPont Early Retirement Class Action

Cockerill, et al. v. Corteva, Inc. DuPont Specialty Products USA, LLC, et al. United States District Court Eastern District of Pennsylvania Case No. 21-cv-03966-MMB Case Overview Plaintiffs are participants in the Corteva Pension and Retirement Plan, formerly the U.S. DuPont Pension and Retirement Plan (the “Plan”). Plaintiffs brought this action on their own behalf and […]

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 & […]

The Market for Pension Risk Transfers Continues to Grow

The pension risk transfer (PRT) market is growing fast. Single premium pension risk transfers during the first quarter of 2023 were the highest they’ve ever been in a first quarter, according to LIMRA’s U.S Group Annuity Risk Transfer Survey. First quarter sales are usually much more sluggish. In the first quarter of 2023, the value […]

The Troubling Use of Offshore Reinsurers

When a pension risk transfer deal (PRT) takes place, liabilities for retirees’ pensions are transferred to an insurance company. It follows, then, that an insurer’s investment decisions stand to impact retirees directly. Insurers are increasingly transferring payment liabilities to offshore reinsurance companies in jurisdictions like Bermuda and the Cayman Islands. This is very troubling for […]

Excess Mortality During Covid 19 Not Fully Explained by Official Death Records

During the Covid-19 pandemic, a measure known as “excess mortality” has been used to predict how many deaths were caused by the disease. The value of the measure is that, at least ostensibly, it factors out deaths from non-Covid causes, showing only those deaths caused by Covid-19. Historical demographic data is used to calculate expected […]

Stone to Speak at Society of Settlement Planners Conference

Edward Stone will be a guest speaker at the 2023 Society of Settlement Planners Conference in Nashville, Tennessee. Mr. Stone will be speaking on Cordero v. Transamerica Annuity Serv. Corp.: Understanding the Implications. Attorney Stephen Harris of the Law Office of Stephen Harris will join Mr. Stone on this panel.

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 […]