TPG Defeats Motion to Dismiss in Insurance Bid-Rigging Class Action Case
On February 27, 2013, the U.S. District Court for the Eastern District of Pennsylvania denied a motion to dismiss or compel arbitration in the secondary insurance market class-action case Griswold v. Coventry First, LLC, et al. TPG represents the plaintiff and the alleged plaintiff class.
In October 2010, TPG filed on behalf of Lincoln Griswold a class action lawsuit against in Pennsylvania state court against Coventry First LLC and other defendants. Griswold's Complaint alleges that a bid-rigging scheme resulted in his receiving substantially less than the fair market value of an insurance policy that he sold to Coventry in March 2008. Coventry First LLC (Fort Washington, PA) is an intermediary in the secondary market for life insurance.