WEIL QUARANTA, P.A. Announces Jury Trial Set for Pacific Life Flex XII 412(i) Insurance Policies in U.S. District Court Ft. Lauderdale Florida on December 19, 2011
(firmenpresse) - MIAMI, FL -- (Marketwire) -- 10/13/11 -- United States District Judge for the Southern District of Florida, the Honorable Kathleen M. Williams, has scheduled a specially set jury trial in the case styled Zarrella Construction Co., et. al. v. Pacific Life Insurance Company, Case No. 10-cv-60754-WILLIAMS, commencing December 19, 2011 in Fort. Lauderdale, Florida. The case involves the sale of Flex XII and related insurance and annuity policies sold by Pacific Life Insurance Company during 2002 through 2005 for use in so called 412(i) defined pension benefit plans. In 2004 the IRS had concluded that tax schemes involving such policies and plans were "listed transactions" and emblematic of abusive tax shelters. Because this case is the first of its kind scheduled for trial which challenges Pacific Life's sales practices with regard to these policies and its contract obligations to these policy holders, this lawsuit has broad implications for thousands of others who purchased similar Pacific Life insurance products throughout the country. Calendar call is scheduled for 11:00 A.M. on December 13, 2011.
Plaintiff, Zarrella Construction Co., is represented by Ron Weil and John M. Quaranta of the Miami, Florida law firm of WEIL QUARANTA, P.A. According to Mr. Weil, "We look forward to bringing this matter to trial. We are confident that a jury will harshly condemn the conduct of Pacific Life in exposing so many policy holders to IRS penalties, additional tax, and damages following their purchase of these Flex XII and Quest II policies for use in their pension plans."
Mr. Weil and Mr. Quaranta can be reached at (305) 372-5352 or via e-mail: ;
Mr. Weil or Mr. Quaranta
(305) 372-5352
or
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Datum: 13.10.2011 - 16:22 Uhr
Sprache: Deutsch
News-ID 75975
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