Equitable Life to be sued by annuity customers?
Annuity holders trapped within Equitable's scheme threaten to sue over compensation
1st May 2004
Disgruntled annuity holders trapped with Equitable Life's discredited scheme have threatened to sue the company over compensation.
The annuities have lost around 40% of their value, and the company has been criticised for mis-selling the policies and mismanaging their performance.
A group has been set up called ELTA (Equitable Life Trapped Annuitants), and the organisers are threatening legal action by July if compensation is not forthcoming, although they have yet to state exactly what form the action will take.
Equitable, for their part, have said they will defend any such action 'vigorously'.
Read More: Money Guardian
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More Equitable Life News : Equitable Life to Drop Case, Equitable Slashes Negligence Damages Claim, Equitable Life Sues Former Directors, Equitable Boss Banned for 6 Years |
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