Hagens Berman Sobol Shapiro today filed a class action lawsuit against Midland National Life Insurance Company, claiming the company engages in a scheme to reap profits by exploiting and preying on senior citizens.
The complaint states that Midland National knowingly sells deferred annuity products to senior citizens that would not mature until after the annuitant's life expectancy.
The suit is asking the court to end what it claims are unfair, improper and unlawful practices and seeks damages caused by Midland National's actions.
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