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Cheves, et al. v. American Investors Life Insurance Company, et al.
Superior Court of California, County of San Luis Obispo
Case No. CV 031024
OFFICIAL CLASS ACTION SETTLEMENT WEBSITE
This is the official website for information concerning the class action settlement in the matter of Cheves, et al. v. American Investors Life Insurance Company, et al., Superior Court of California, County of San Luis Obispo, Case No. CV 031024. This website will be updated periodically throughout the course of the settlement approval and claims process. This website was last updated on December 12, 2005.
Settlement Status:
The class action settlement in the Cheves action received final approval by the Court, and judgment was entered, on November 16, 2005. The Court has now finally approved the settlement as being fair, reasonable and adequate, and free of collusion or indicia of unfairness. Also, the Court overruled all objections to the settlement. The Final Approval Order and Judgment, and all other papers filed in support of final approval, can be reviewed in the office of the Clerk of Court, San Luis Obispo Superior Court, County Government Center, 1035 Palm Street, Room 385, San Luis Obispo, California, between the hours of 8:30 a.m. and 4 p.m.
CLAIMS PROCESS INFORMATION AND STATUS:
On December 12, 2005, Claim Forms were mailed to each Settlement Class member who did not timely request exclusion from the class. If you are a Settlement Class member and did not request exclusion, you should expect to receive one or more Claim Forms sometime during the week of December 12-19, 2005. If you do not, contact the Settlement Information Center, toll-free, at 1-800-986-9125, and a live operator can assist you in obtaining the proper Claim Forms.
THE POSTMARK DEADLINE FOR RETURNING THE CLAIM FORMS IS JANUARY 26, 2006. To be timely, Claim Forms must be postmarked no later than this deadline date. If you do not return your Claim Forms on time, you may not be eligible for certain settlement benefits. A return envelope has been provided for you to return your Claim Forms.
The Claim Forms contain full instructions for their proper completion and submission. YOU MUST FULLY COMPLETE AND TIMELY RETURN ALL OF THE CLAIM FORMS THAT ARE MAILED TO YOU IN ORDER TO MAKE SURE YOU REMAIN ELIGIBLE FOR THE FULL SCOPE OF SETTLEMENT BENEFITS TO WHICH YOU MAY BE ENTITLED. If a Claim Form mailed to you includes an Annuity Class Questionnaire, you must also complete that Questionnaire according to the instructions provided. Please follow all instructions carefully, fully complete all of the Claim Forms, and make sure to timely return them to the Claims Administrator.
Please remember, you might receive multiple Claim Forms. Each class member who purchased estate planning services subject to the Settlement will receive an estate planning claim form. (The estate planning claim form can be identified by the text in the lower left hand corner, which states "Estate Planning Claimants.") Each class member who purchased an annuity subject to the Settlement will receive one or more annuity claim forms, one for each such annuity policy purchased. (The annuity claim form can be identified by the text in the lower left hand corner, which states either "Annuity Claimants with Questionnaire" or "Annuity Claim Form - no questionnaire.")
For example, if you purchased estate planning services and two annuity policies that are subject to the settlement, you should receive three claim forms - one for the estate planning services, and one for each of the two annuities. Even though some of the information may seem repetitive, you must fully complete all of the Claim Forms to claim full settlement benefits.
Once the Claim Form submission period concludes, the Claims Administrator will promptly determine the settlement benefits for each claimant. Under the terms of the settlement, settlement benefits will be mailed to valid claimants within 60 days after expiration of the time to file any appeals of the final approval of the settlement, and entry of judgment in this action, or if such an appeal is filed, within 60 days after the resolution of that appeal. At the absolute earliest, settlement benefits will be mailed to claimants on March 16, 2006.
If you have further questions about the Claim Forms or the claims process, please see the "Frequently Asked Questions?" section below. If you still have questions, you can contact a live representative from the Settlement Information Center at the toll-free number, 1-800-986-9125.
Settlement Documents in PDF format, available for download:
Notice of Class Action Settlement, (the mailed notice)
Notice of Class Action Settlement, (the published notice)
FREQUENTLY ASKED QUESTIONS:
Claims Process:
Payment Process:
Further Questions?
If you have questions about this settlement, the Claim Forms, or the claims process, you should carefully read the entire Notice of Class Action Settlement. That notice contains full information about this lawsuit and the terms of the settlement. A copy of the notice can be downloaded from this website, (see above). Feel free to review the notice with a relative, financial advisor, attorney, or anyone else you trust to assist you with important financial decisions.
If after reviewing the notice you still have questions about the settlement, the Claim Forms, or the claims process, you can contact a live representative from the Settlement Information Center at the toll-free number, 1-800-986-9125.
Also, the Court's file in this action can be reviewed in the office of the Clerk of Court, San Luis Obispo Superior Court, County Government Center, 1035 Palm Street, Room 385, San Luis Obispo, California, between the hours of 8:30 a.m. and 4 p.m.
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