Texas lawsuit: Lincoln Financial annuity fell far short of illustration promises
April 11, 2023 by John Hiton
A Texas lawsuit claims that Lincoln Financial sold nine plaintiffs a fixed indexed annuity with illustrated promises of big gains that never materialized.
The group of nine plaintiffs seek class-action status and are suing both Lincoln and Fidelity Product Services, provider of the index upon which the Lincoln FIA is linked. Initially filed in Dallas County court, the defendants successfully petitioned to move the lawsuit to the U.S. District Court for the Northern District of Texas.