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OLMSTED v. PRUCO LIFE INS. CO. OF NEW JERSEY

No. CV 00-1340(NGG).

134 F.Supp.2d 508 (2000)

Sidney OLMSTED and Johanna Olmsted, On Their Own Behalf and On Behalf of All Others Similarly Situated, Plaintiffs, v. PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY and the Prudential Insurance Company of America, Defendants.

United States District Court, E.D. New York.

October 30, 2000.

Attorney(s) appearing for the Case

Paul D. Wexler, Bragar Wexler Eagel & Morgenstern, L.L.P., New York, NY, Jeffrey H. Squire, Kirby McInerey & Squire, L.L.P., New York, NY, for Plaintiffs.

Mark Holland, James N. Benedict, and Mary K. Dulka, Clifford Chance Rogers & Wells, L.L.P., New York, NY, for Defendants.

MEMORANDUM AND ORDER

GARAUFIS, District Judge.

Plaintiffs filed this putative class action alleging excessive fees charged by a life insurance company. Plaintiffs are holders of Variable Annuity Contracts ("Contracts") issued by Pruco Life Insurance Company and its parent, Prudential Insurance Company, (collectively, "Defendants") since March 10, 1997. Plaintiffs allege that the fees charged by Defendants for the service of managing Plaintiffs' Contracts...

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