An online claim site is now live for victims of the TelexFree Inc. fraud.
Participants in the scheme, who number nearly 2 million and live in virtually every country in the world, can log in to the website telexfreeclaims.com and file claims for alleged losses, according to the bankruptcy trustee in the case.
The deadline for filing a claim is Sept. 26, although any payments will likely take much longer.
TelexFree, formerly based in Marlborough and Brazil, is believed to be the largest Ponzi scheme of all time, in terms of the number of people affected. The company, which nominally sold Internet phone service, grew into a vast global investment swindle, prosecutors have alleged, with investors believing they had $3 billion in their accounts.
TelexFree filed for federal bankruptcy protection two years ago. The company’s two
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Law Firm Investigating Potential Claims On Behalf of Medifast, Inc. Stockholders
by Tina Williams • • 0 Comments
Kirby McInerney LLP is investigating potential claims against the Board of Directors of Medifast, Inc. (“Medifast” or the “Company”) MED, -0.36% concerning the improper compensation of the Company’s executives.
Medifast’s key executive compensation increased drastically from approximately $2.12 million in 2012 to approximately $12.11 million in 2013. This is an especially significant increase given the fact that key executive compensation was under $2 million for each year from 2009 to 2011. While the key executive compensation has increased dramatically, there has not been any significant increase in the Company’s stock price.
If you are a Medifast stockholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com, or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at mfortunato@kmllp.com, or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, whistleblower, antitrust and consumer litigation.
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Primerica Agents Accused Of Failing To Pay Claim
by Tina Williams • • 0 Comments
Primerica Life Insurance Co. and two of its agents are being sued for failing to pay benefits from a life insurance policy.
Carolyn Arline and Machell Amador filed a lawsuit June 2 in the Jefferson County District Court against Primerica Life Insurance Co., Laura A. Hubbard and LaQuanda Shonta Howard, citing anticipatory breach, breach of contract, unfair settlement practices, fraud and breach of the duty of good faith and fair dealing.
The plaintiffs claim they purchased a life insurance policy which covered various individuals, including Kaloni Corbin, on May 22, 2013, from the defendants.
The suit alleges Kaloni Corbin died July 6, but the defendant failed to fully pay the plaintiffs the full benefits due under their life insurance policy, claiming “insurable interest.”
According to the suit, the defendant misrepresented the policy coverage, failed to settle the claim in a fair manner and failed to offer a valid explanation for refusing to pay the plaintiffs.
The plaintiffs are seeking damages, interest, expenses, attorney’s fees and court costs.
They are being represented by Beaumont attorney John Pat Parsons of Lindsay, Lindsay and Parsons.