Hagens Berman Sobol Shapiro Cases

American Equity Investment Life Insurance

Date Filed: February 15, 2006

Court: U.S. District Court

Location: Central District of California

Ticker Symbol: AEL

Hagens Berman Sobol Shapiro is serving as co-counsel in a case against American Equity Investment Life Insurance Company that claims the company knowingly engaged in an unethical and fraudulent scheme targeted towards senior citizens.

The lawsuit alleges American Equity exploits customers' fears of outliving their assets and pushes them into a deferred annuity plan that ties up their investments and savings for 10 to 20 years. These accounts carry large surrender charges and create complications for loved ones dealing with estates when family members pass.

The lawsuit further alleges that American Equity sells these plans through a network of marketing and sales agents using fraudulent and deceptive sales tactics.

If you purchased a deferred annuity plan from American Equity, or know someone who has, please contact Hagens Berman by clicking here or e-mailing info@hbsslaw.com.