The Firm prevailed on its motion to dismiss in New York Supreme Court, Queens County, on behalf of its client, a life insurance company. Plaintiff, a purported beneficiary of a life insurance policy issued by the Firm’s client, asserted breach of fiduciary duty claims in his individual capacity and on behalf of the policyholder, on the alleged basis that the Firm’s client improperly distributed insurance proceeds to plaintiff’s relative, instead of plaintiff. The Court accepted in full the Firm’s argument that, as a matter of New York law, life insurers do not owe fiduciary duties to policyholders or beneficiaries. Thus, the court dismissed plaintiff’s complaint against the Firm’s client, along with a crossclaim asserted by Plaintiff’s relative.
