The Zeidman case involved a class action including 82 Plaintiff school teachers, who originally filed their Complaint in 1980. Plaintiffs were allegedly defrauded by our client, who sold them annuities. Plaintiffs claimed the annuities were actually worthless life insurance policies. The case was originally tried in 1985, resulting in a jury verdict in excess of $2.3 million. Plaintiffs’ attorney was Geoffrey Feiger.
Judge Prentis Edwards ruled in favor of Plaintiffs on everything, including over 25 trial motions. The $493,066.00 verdict for unfulfilled reasonable expectations was reduced by $380,000.00 for a settlement entered into with other Defendants prior to trial, netting a remainder of $113,066.