American Equity Reaches Settlement with Minnesota Attorney General.WEST DES MOINES, Iowa West Des Moines is a city in Polk, Dallas, and Warren counties in the U.S. state of Iowa. As of the 2000 census, the city population was 46,403; a special census taken in the spring of 2005 counted 51,744 residents. -- American Equity Investment Life Holding Company (NYSE NYSE See: New York Stock Exchange : AEL AEL Association Electronique Libre AEL Appalachia Educational Laboratory AEL Arabisch Europese Liga AEL Agence de l'Energie AEL Arab European League AEL Accessible Emission Limit AEL Acceptable Exposure Limit AEL Arquivo Edgard Leuenroth ), announced today that it has reached a settlement with the Minnesota Attorney General on all issues in their existing lawsuit. The settlement was approved by Hennepin County District Court Judge Kevin S. Burke, the presiding judge presiding judge n. 1) in both state and federal appeals court, the judge who chairs the panel of three or more judges during hearings and supervises the business of the court. in the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . The settlement has two primary components including a defined suitability process for Minnesota consumers and a claims process for past sales of certain annuity products in which a senior consumer was either misinformed or received a product not suitable for his or her needs. Both the suitability and claims reviews are similar to processes already in place at American Equity. On behalf of American Equity, Chairman, Chief Executive Officer and President David J David J. Haskins (b. April 24, 1957, in Northampton, England) is a British alternative rock musician. He was the bassist for the seminal gothic rock band Bauhaus. Life and work . Noble stated, "We are pleased to have reached this settlement with the Minnesota Attorney General. The settlement represents a business decision that will allow us to return our attention to our primary goals. The burdens of litigation are enormous, and we prefer to use our time and resources in furtherance of our efforts to provide superior products and excellent service. American Equity's annuity products offer safety and retirement income security in an increasingly insecure marketplace." Under the terms of the settlement, AEL has not admitted any liability or acknowledged the validity of any claims that were asserted in the action by the Attorney General. Caution Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements relate to future operations, strategies, financial results or other developments, and are subject to assumptions, risks and uncertainties. Statements such as "guidance," "expect," "anticipate," "believe," "goal," "objective," "target," "may," "should," "estimate," "projects," or similar words as well as specific projections of future results qualify as forward-looking statements. Factors that may cause our actual results to differ materially from those contemplated by these forward looking statements can be found in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made and the Company undertakes no obligation to update such forward-looking statements. There can be no assurance that other factors not currently anticipated by the Company will not materially and adversely affect our results of operations. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf. About American Equity American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a full-service underwriter of a broad line of annuity and insurance products with a primary emphasis on the sale of fixed-rate and index annuities. The company's headquarters are located at 5000 Westown Parkway, West Des Moines, Iowa, 50266. The mailing address of the company is: P.O. Box 71216, Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, , 50325. For more information, visit our website www.american-equity.com |
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