SEATTLE–(BUSINESS WIRE)–On August 3, 2022, Judge Marsha J. Pechman of the United States District Court for the Western District of Washington issued an order granting certification to a nationwide class of structured settlement annuity holders who allege that certain business practices by Symetra Life Insurance and its affiliate Symetra Assigned Benefits Service Company (“SABSCO”) violated RICO, the Washington Consumer Protection Act, civil conspiracy, unjust enrichment, and their contractual rights. In this case, White, et al. v. Symetra Assigned Benefits Service Company, the Court certified the following class:
“All persons who are or were, at any time, annuitants of [a structured settlement annuity (“SSA”)] that contemplated life contingent payments issued by Symetra and who subsequently sold to a Symetra affiliate the right to receive payments from that SSA in a factoring transaction.”
The Court denied Plaintiffs’ Motion to Certify a Class as to their breach of fiduciary duty claims. Plaintiffs brought this class action lawsuit on behalf of themselves and all others who, in settling underlying tort litigation, became the beneficiaries of a Symetra Life Insurance structured settlement annuity, and who then sold their future annuity payments to SABSCO or another Symetra affiliate.
Plaintiffs’ amended complaint alleges that Defendants solicited Plaintiffs’ rights to their future payments as part of a business scheme that used their position of trust as issuer and owner of Plaintiffs’ structured settlement annuities. Plaintiffs allege that Defendants leveraged their knowledge and unequal bargaining power to profit by purchasing Plaintiffs’ future payments at a steep discount in factoring transactions. As a certified class, Plaintiffs are one step closer to holding Defendants accountable for these practices.
Plaintiffs’ Counsel, Alison E. Chase, remarked: “We are gratified that the Court granted certification to a nationwide class in this case, which seeks redress for injured persons and their families who relied upon Symetra to safeguard their long-term financial wellbeing, only to see that trust violated.”
The case is:
White, et al. v. Symetra Assigned Benefits Service Company, et al.
United States District Court Western District of Washington
Case No. 20-cv-01866
Learn more about the case here.
Keller Rohrback Attorneys for Plaintiffs are:
Keller Rohrback L.L.P
801 Garden Street, Suite 301
Santa Barbara, CA 93101
1201 Third Avenue, Suite 3200
Seattle, WA 98101
About Keller Rohrback L.L.P.
Keller Rohrback L.L.P. is a consumer rights class action law firm with offices in seven locations throughout the country. Keller Rohrback’s lawyers have a long history of successfully representing individuals and class members in a wide range of important consumer protection litigation. Keller Rohrback’s team of experienced litigators have helped to protect consumers around the country. Our attorneys have obtained judgments and settlements on behalf of clients in excess of $49.85 billion.