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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: ValueAmigo who wrote (37542)	4/23/2010 2:26:39 PM
From: ValueAmigo	Respond to of 78753

Re NWLI Item 8.01 Other Events National Western Life Insurance Company (the “Company”) is the named Defendant in the case of Sheila Newman vs. National Western Life Insurance Company which alleged mishandling of policyholder funds by an agent. On February 3, 2010, the 415th Judicial District Court of Parker County in Weatherford, Texas, entered a Final Judgment against the Company of approximately $208,000 for actual damages, attorney’s fees for preparation of trial, and prejudgment interest on the actual damages. In addition, the Final Judgment included $150 million for exemplary damages. The Company will continue to vigorously defend this case by filing an appeal of the Final Judgment with the proper Court of Appeals in Texas. The Company believes the Final Judgment is inconsistent with current state and federal laws and intends to establish on appeal that it is not liable for the Plaintiff’s actual or exemplary damages. ========= This is how foolish some judgments can be. I believe it was an annuity sale and the customer was reimbursed for all losses and fees of 208K but the judgment penalty is 150 mil??? Real great legal system. we allow the entire Real estate complex to collude on selling over priced houses and write a large # of Fraudulent loans but where are the arrests??