MetLife – Misleading Annuity Customers

Ponzi scheme attorneysMetLife Looking at Record $25 Million FINRA Fine for Allegedly Misleading Variable Annuity Customers

MetLife Inc., one of the biggest brands in life insurance, allegedly misled tens of thousands of customers regarding a product that retirees seek out for safety, according to statements from FINRA regulators currently under review by attorneys Alan Rosca and Joe Peiffer.

FINRA levied a near-record $25 million fine against MetLife, which allegedly failed to assist customers properly compare old and new versions of variable annuities, which led some clients to give up versions of products that cost less and had more-generous features than new ones, FINRA further alleges.

The Peiffer Rosca Wolf securities lawyers are currently investigating MetLife’s alleged practices of misleading variable annuity customers.

MetLife Allegedly Overstated the Cost of a Customer’s Existing Variable Annuity Contract from Time to Time, Sometimes Increasing a Customer’s Cost by 2 Percent

MetLife sometimes allegedly overstated the cost of a customer’s existing variable annuity contract, which in some cases increased a customer’s cost by 2% annually, according to the recent FINRA settlement presently being examined by attorneys Alan Rosca and Joe Peiffer.

MetLife also allegedly occasionally failed to tell customers a proposed replacement would reduce or eradicate features of their existing variable annuity, FINRA notes.

One should also note that MetLife neither admitted nor denied the FINRA findings, which concerned alleged violations between 2009 and 2014, according to the settlement.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers are currently investigating MetLife’s alleged practice of misleading tens of thousands of customers regarding a product that retirees seek out for safety. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

The Peiffer Rosca Wolf securities lawyers are currently investigating MetLife’s alleged failure to assist customers properly compare old and new versions of variable annuities. Investors who believe they lost money as a result of MetLife may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1123 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.