Judge Recommends Throwing Out Ohio National’s Motion To Dismiss Class Action
July 8, 2019 by InsuranceNewsNet
A magistrate judge for the Southern District of Ohio recommended that a motion by Ohio National Life Insurance to dismiss a class action lawsuit against it involving the termination of trail commissions on certain variable annuities be denied, according to court documents.
Judge Stephanie Bowman issued the report last week in a class action suit filed in March by Stephen Cook, a Dallas-based advisor affiliated with Triad Advisors, also recommending that the case be consolidated with a similar one against Ohio National brought by Lance Browning, an advisor with LPL Financial, in November. In a separate report, Bowman also rejects the insurer’s motion to throw out the Browning case.
In both cases, Ohio National has 14 days to object to the recommendations, or they will become final.
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