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SWEENEY v. KEYSTONE PROVIDENT LIFE INS. CO.

Civ. A. No. 82-682-Z.

578 F.Supp. 31 (1983)

Jerome V. SWEENEY, II, on his own behalf and on behalf of all others similarly situated v. KEYSTONE PROVIDENT LIFE INSURANCE COMPANY; Keystone Custodian Funds, Inc.; Travelers Corporation of Hartford, Connecticut; and Keystone Massachusetts, Inc.

United States District Court, D. Massachusetts.

April 19, 1983.

Attorney(s) appearing for the Case

Edward DeFranceschi and Edward F. Haber, Boston, Mass., for plaintiff.

Paul B. Galvani, Eleanor D. Acheson, Ropes & Gray, Boston, Mass., Daniel A. Pollack, Pollack & Kaminski, New York City, for defendants.

MEMORANDUM OF DECISION

ZOBEL, District Judge.

This is a class action brought by plaintiff Jerome V. Sweeney, II as representative of a class of 925 persons who purchased variable annuities from defendant Keystone Provident Life Insurance Company. The annuities, known as "Keystone 100s," were sold pursuant to a prospectus dated April 9, 1981. Plaintiff claims that the prospectus contains misleading statements and material omissions in discussing the tax implications...

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