What is this lawsuit about?
This class action lawsuit is known as Hanks v. The Lincoln Life & Annuity Company of New York and Voya Retirement Insurance and Annuity Company, Case No. 16-cv-6399, and it is in the United States District Court for the Southern District of New York. This class action lawsuit alleges that Voya (“Defendant”) breached its contracts with policyholders by unlawfully increasing its cost of insurance (“COI”) rates on specific life insurance policies issued by Aetna, which is now known as Voya. The Court has allowed this lawsuit to be a class action against Voya on behalf of a “Class,” or group of people, that could include you. If you are a member of the Class, you have to decide whether to stay in the lawsuit and be bound by any judgment in this case, or ask to be excluded and preserve any rights to sue Voya at your own expense and with your own attorney about the same legal claims asserted in this lawsuit. There is no money available now and no guarantee there ever will be. The Court has made no decision as to the merits of the Plaintiff’s legal claims or Voya’s defenses, and Voya denies Plaintiff’s claims.