Major Legal Win for Policyholders: $47.2 Million Judgment Secured
Stueve Siegel Hanson LLP Celebrates Major Legal Victory
The Missouri Court of Appeals has affirmed a monumental jury verdict that brings significant relief to policyholders represented by Stueve Siegel Hanson LLP. This decision, now solidified with a remarkable total recovery of $47.2 million, highlights the firm’s commitment to defending consumer rights in the context of insurance contracts.
Details of the Case and Jury Verdict
The journey towards this landmark ruling began in the fall of 2019, when Stueve Siegel Hanson LLP and co-counsel Schirger Feierabend LLC filed a lawsuit against Kansas City Life Insurance Company on behalf of Missouri policyholders. The jury's favorable ruling on December 9, 2022, awarded $28.4 million in damages, reflecting serious breaches of contract that had persisted for decades.
Understanding the Breach of Contract
The Missouri Court of Appeals articulated that policyholders experienced significantly lower cash account values due to excessive deductions implemented by Kansas City Life over a 40-year period. After thorough examination, the Court determined that these deductions far exceeded what the policies allowed, validating the claims made by Stueve Siegel Hanson and strengthening the position of policyholders.
Importance of Pre-Judgment Interest
In a crucial development for policyholders, the Appeals Court ruled that they would also receive pre-judgment interest on the jury’s award. This decision not only acknowledges the damages of approximately $28.4 million but also adds an additional $14.6 million to the total judgment, considerably enhancing the financial recovery for the policyholders.
Remarks from Lead Counsel
Patrick Stueve, the lead trial counsel representing the policyholders, expressed unwavering dedication to advocating for their interests. He stated, "We are continuing to fight the good fight for our policyholders. Although attempts to reach a settlement with Kansas City Life have yet to be fruitful, we are hopeful that this victorious appeal will finally provide the relief these customers rightfully deserve."
Additional Ongoing Legal Efforts
Stueve Siegel Hanson LLP and Schirger Feierabend are not only celebrating this win; they are also currently pursuing two other judgments against Kansas City Life that are under appeal. This includes a recent case that was argued before the United States Court of Appeals for the Eighth Circuit. The firms remain proactive in pursuing cases on behalf of policyholders in not just Missouri but also in states such as California and Maryland.
Investigating Broader Issues
The firms are expanding their reach, investigating further claims against Kansas City Life policyholders and exploring potential issues relating to improper Cost of Insurance charges across various states. Their comprehensive approach ensures that they are addressing not only immediate concerns but also systemic issues affecting numerous policyholders.
Commitment to Class Actions and Appeals
This victory serves as a testament to the efficacy of Stueve Siegel Hanson's Class Trials & Appeals team, which consists of experienced attorneys dedicated to securing wins in class-action lawsuits. By handling high-stakes appeals on a contingent-fee basis, the firm ensures that justice is accessible for those wronged by corporate entities.
Frequently Asked Questions
What is the significance of the $47.2 million recovery?
The $47.2 million recovery represents a crucial victory for policyholders and reinforces consumer rights in insurance contracts, holding Kansas City Life accountable.
What led to the lawsuit against Kansas City Life?
The lawsuit stemmed from Kansas City Life’s excessive deductions that negatively impacted policyholders’ cash account values over a prolonged period.
Why was pre-judgment interest awarded to policyholders?
The Court determined that policyholders were entitled to pre-judgment interest as part of their damages, enhancing their total recovery amount significantly.
What ongoing efforts is Stueve Siegel Hanson pursuing?
Stueve Siegel Hanson is currently defending other judgments against Kansas City Life and pursuing new claims on behalf of policyholders in different states.
How does Stueve Siegel Hanson approach class-action lawsuits?
The firm specializes in class-action litigation and appeals, working on a contingent-fee basis to ensure that justice is accessible and effectively pursued for clients.
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