AIG Policy Holder Lawsuit California AIG policyholders had asked Los Angeles Superior Court Judge Yvette M. Palazuelos to put a stop to AIG's alleged on-going unlawful, deceptive, and unfair business practices.
The plaintiffs in the case purchased annuities with death benefits from AIG's SunAmerica Annuity and Life Assurance Company. The filing asked the court to issue an injunction putting a stop to certain practices.
Our AIG case is on appeal before the California State Appellate Court in Los Angeles. The trial court dismissed our case on the grounds that the plaintiffs did not have standing and regulation is better left to other agencies. Our argument on appeal is that AIG is operating outside of any meaningful regulation and that policy holders and annuity investors have a right to invoke the injunctive power of the Court to stop AIG from engaging in any further unlawful, fraudulent, or unfair business practices that threatens AIG's ability to make good on its annuities and life insurance policies.