Case Overview

We represent David Much in connection with third-party subpoenas that he received in a RICO class-action lawsuit. In the lawsuit, the plaintiffs — who are represented by Susman Godfrey L.L.P. — allege that defendant Security Benefit Life Insurance Company devised and implemented a fraudulent scheme to exploit the market for equity-indexed deferred annuities (EIAs). Specifically, the plaintiffs allege that Security Benefit’s fraudulent scheme included the development and marketing of a series of misleading and deceptive annuity products professing to provide above-market returns that were never realistic for the plaintiffs to obtain. Based on this alleged scheme, the plaintiffs brought a class-action complaint asserting federal RICO claims, state law claims for unfair competition and deceptive business practices, and common law fraud. Our client, Mr. Much, is an independent insurance producer and registered investment advisor who sold EIAs through Security Benefit. Mr. Much was disclosed as a witness by Security Benefit because he would be submitting a declaration at a later date explaining the process by which he sold the EIAs. As a result, the plaintiffs served two separate third-party subpoenas on Mr. Much — one to produce documents and one to testify at a deposition. We were retained by Mr. Much shortly after he received the subpoenas. Since being retained, we have objected and responded to the subpoenas and worked with the plaintiffs’ counsel to narrow the scope of the document subpoena. We are currently in the process of reviewing and producing documents while we continue to coordinate with the plaintiffs’ counsel on a mutually agreeable deposition date. Once that date is agreed to, we will prepare Mr. Much for his deposition and defend it. We anticipate that we will continue to represent Mr. Much if he is involved in the case in any further capacity, including being called as a witness at any hearings or at trial. The lead partner on the case is Daniella Main. She is assisted by Austin Priddy.