United States District Court for the Eastern District of Virginia (Richmond Division)
Case No. 3:19-cv-00049-REP
Welcome to the Information Website for the Skochin v. Genworth Life Insurance Company Class Action Settlement.
A proposed settlement has been reached between the parties in the Jerome Skochin, et al. v. Genworth Life Insurance Company, et al. class action lawsuit pending in the United States District Court of the Eastern District of Virginia (the “Class Action”), and on January 15, 2020, the settlement was granted preliminary approval by the Court supervising the lawsuit.
The purpose of this website is to describe the Class Action and to inform Settlement Class members of the proposed settlement terms and their rights and options in connection with the settlement.
The Class Action has been filed against Genworth Life Insurance Company and Genworth Life Insurance Company of New York (collectively, “Genworth”) in the United States District Court for the Eastern District of Virginia, alleging that Genworth intentionally withheld material information from long-term care insurance policyholders with respect to Genworth’s rate increase plans and its reliance on policyholders paying increased rates to pay future claims. The lawsuit asserts claims for fraudulent inducement by omission and violations of the Pennsylvania Unfair Trade Practices and Consumer Protection Law, on behalf of policyholders in all fifty states and the District of Columbia.
Genworth denies any wrongdoing or legal liability in the lawsuit. The Court has not determined whether Genworth committed any wrongdoing or is liable to the class for any damages. A proposed settlement has been reached between the parties to avoid the uncertainties, risks, expenses, and business disruption of continued litigation balanced against the settlement benefits to the proposed Settlement Class. The Court has determined that it will likely be able to approve the proposed settlement as fair and reasonable.
Because the rights of Settlement Class members may be affected, it is extremely important that you read this website carefully.
This website is only a summary of the Settlement Agreement. For the precise terms and conditions of the settlement, the complete Settlement Agreement, pleadings and documents on file in this case are available on the Important Documents page of this website.
If you are a member of the Settlement Class, below is a summary of your options in this settlement.