Transamerica Life Insurance Company
United States District Court for the Central District of California
Case No. CV 12-02782 DDP (MANx)
Santomenno, et al. v. Transamerica Life Insurance Company, et al. alleges violations of the Employee Retirement Income Security Act of 1974 (as amended) (“ERISA”). Keller Rohrback filed the class action complaint on behalf of Plaintiffs and a Class of similarly situated persons who, as of the date of the filing of the complaint (February 8, 2011), were participating in or were beneficiaries of defined contribution plans (401k plans) to whom Transamerica Life Insurance Company (“TLIC”) provided fiduciary services through one of its group annuity contracts (“GACs”). Additional defendants in this matter are Transamerica Investment Management, LLC (“TIM”) and Transamerica Asset Management, Inc. (“TAM”) (collectively, “Transamerica” or “Defendants”). Plaintiffs’ ERISA claims allege that Defendants extracted impermissible fees from GACs issued by Transamerica to 401(k) plans created for small- and mid-sized businesses through the use of add-on or wrapper fees.
On February 19, 2013, the Court issued an order denying Defendants’ motions to dismiss in large part and upholding all of Plaintiffs’ ERISA claims, finding that TLIC had fiduciary status with respect to these claims. On April 25, 2013, the Court denied Defendants’ request that the order upholding Plaintiffs’ ERISA claims be certified for an interlocutory appeal to the Ninth Circuit. On May 21, 2013, the Court denied Defendants’ motion to strike Plaintiffs’ class allegations, allowing the case to proceed as a putative class action.
The case is now in discovery.
Order re: Motion to Dismiss — 02/19/13
Order re: Motion to Amend — 04/25/13
Order re: Motion to Strike Class Allegations — 05/21/13