| Company: | AEGON USA, Inc. |
| Ticker Symbol: | NYSE: AEG |
| Class Period: | October 1, 1998 to October 1, 2001 |
| Date Filed: | Sep-07-06 |
| Lead Plaintiff Deadline: | Nov-06-06 |
| Court: | Northern District, CA |
| Allegations: |
A class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons who, from October 1, 1998 through October 1, 2001, inclusive ("Class Period"), purchased or otherwise acquired an individual tax-deferred variable annuity contract or who received a certificate to a group tax-deferred variable annuity contract, or who made an additional investment through such a contract, issued by any of the defendants herein, which was used to fund a contributory retirement plan or arrangement qualified for favorable tax treatment pursuant to sections 401, 403, 408, 408A or 457 of the Internal Revenue Code (the "Class"). The defendants are AEGON USA, Inc. and six of its subsidiaries/affiliates, Western Reserve Life Assurance Co. of Ohio; PFL Life Insurance Company; AUSA Life Insurance Company, Inc.; Bankers United Life Assurance Company; AFSG Securities Corporation and AEGON Financial Services Group, Inc.
The complaint alleges that the defendants violated the Securities Act of 1933 by making material misstatements and omissions, in their selling documents including prospectuses, which caused plaintiffs and other members of the Class to purchase the variable annuity contracts. The tax-deferred variable annuities sold by defendants are virtually never suitable investments for tax-deferred retirement accounts because earnings on any such annuity placed in such a retirement plan are already tax-deferred, and purchase of a deferred annuity increases costs without any material, additional economic benefit.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The complaint alleges that the defendants violated the Securities Act of 1933 by making material misstatements and omissions, in their selling documents including prospectuses, which caused plaintiffs and other members of the Class to purchase the variable annuity contracts. The tax-deferred variable annuities sold by defendants are virtually never suitable investments for tax-deferred retirement accounts because earnings on any such annuity placed in such a retirement plan are already tax-deferred, and purchase of a deferred annuity increases costs without any material, additional economic benefit.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
