Overview

A class action lawsuit has been filed against Equitable Financial Life Insurance Company (“EQUI-VEST” or the “Company”) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws. The EQUI-VEST class action lawsuit is brought on behalf of all persons and entities who invested in and/or made contributions to an EQUI-VEST variable annuity between July 15, 2019, and July 18, 2022, both dates inclusive (the “Class Period”). Investors have until September 16, 2024, to seek appointment as lead plaintiff of the EQUI-VEST class action lawsuit.

Equitable Financial Life Insurance Company is an insurance company that provides variable annuity, life insurance, and employee benefit products to both individuals and businesses. 

The EQUI-VEST class action lawsuit alleges that Equitable charged investors significant undisclosed fees on their EQUI-VEST variable annuities, held within 403(b) or 457(b) supplemental retirement savings plans, in violation of §10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. §§78j(b), and Rule 10b-5, promulgated thereunder, 17 C.F.R. §240.10b-5.  Since at least 2016, through at least the first half of 2022, Defendant’s account statements excluded the most significant fees that investors paid on their accounts.  Instead, the account statements listed as fees only certain types of administrative, transaction, and plan operating fees—most often amounting to zero or a very small number—which were, in fact, only a slight fraction of the overall fees paid by the investor.

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If you invested in and/or made contributions to an EQUI-VEST variable annuity between July 15, 2019, and July 18, 2022, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the EQUI-VEST lawsuit is September 16, 2024.