Nearly $8 Million in New York Life Settlement Checks to be Distributed to Heirs of Armenian Genocide Victims
Settlement checks totaling $7,954,362.24 will be distributed this week to more than 2,500 Armenian descendants of victims massacred in the 1915 Armenian Genocide. The checks are a share of a multi million dollar settlement in a class action lawsuit brought against New York Life Insurance Company for unpaid life insurance benefits.
Los Angeles, CA (PRWEB) November 10, 2006 -- Settlement checks totaling $7,954,362.24 will be distributed this week to more than 2,500 Armenian descendants of victims massacred in the 1915 Armenian Genocide. The checks are a share of a multi million dollar settlement in a class action lawsuit brought against New York Life Insurance Company for unpaid life insurance benefits. In addition, $3 million has been already distributed to various Armenian charitable organizations. Martin Marootian, et al. v. New York Life Insurance Company, Case No. C99-12073 CAS (MCx).
The board reviewed thousands of claims and found that 2,515 claims could be traced to Armenians who had purchased life insurance policies from New York Life prior to 1915.
"We are thrilled that thousands of Armenians will finally get the insurance compensation they deserve," says Brian Kabateck, partner with Kabateck Brown Kellner, LLP and one of the lead attorneys who represented the Armenian heirs. "Armenians don't give up easily and this settlement is a testament to that."
"Although compensation is about 90 years late, we're still pleased that Armenians are receiving some of what is owed them," says Mark Geragos, partner with Geragos & Geragos, another of the lead attorneys in the case. In addition to Kabateck and Geragos, Vartkes Yeghiayan of Yeghiayan & Associates represented the plaintiffs in the case. All are of Armenian decent.
Letters will be mailed to all claimants. Checks will be included to claimants awarded compensation. Of the nearly $8 million in settlement checks, Armenians in Armenia will receive the most ($3.4 million) followed by Armenians in the United States ($2.6 million) and Armenians in France ($656,413). In all, Armenians in 26 countries will receive compensation.
For questions about the settlement, contact the settlement board at 213-327-0740.
Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.
Los Angeles, CA (PRWEB) November 10, 2006 -- Settlement checks totaling $7,954,362.24 will be distributed this week to more than 2,500 Armenian descendants of victims massacred in the 1915 Armenian Genocide. The checks are a share of a multi million dollar settlement in a class action lawsuit brought against New York Life Insurance Company for unpaid life insurance benefits. In addition, $3 million has been already distributed to various Armenian charitable organizations. Martin Marootian, et al. v. New York Life Insurance Company, Case No. C99-12073 CAS (MCx).
The board reviewed thousands of claims and found that 2,515 claims could be traced to Armenians who had purchased life insurance policies from New York Life prior to 1915.
"We are thrilled that thousands of Armenians will finally get the insurance compensation they deserve," says Brian Kabateck, partner with Kabateck Brown Kellner, LLP and one of the lead attorneys who represented the Armenian heirs. "Armenians don't give up easily and this settlement is a testament to that."
"Although compensation is about 90 years late, we're still pleased that Armenians are receiving some of what is owed them," says Mark Geragos, partner with Geragos & Geragos, another of the lead attorneys in the case. In addition to Kabateck and Geragos, Vartkes Yeghiayan of Yeghiayan & Associates represented the plaintiffs in the case. All are of Armenian decent.
Letters will be mailed to all claimants. Checks will be included to claimants awarded compensation. Of the nearly $8 million in settlement checks, Armenians in Armenia will receive the most ($3.4 million) followed by Armenians in the United States ($2.6 million) and Armenians in France ($656,413). In all, Armenians in 26 countries will receive compensation.
For questions about the settlement, contact the settlement board at 213-327-0740.
Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.
Labels: Armenia - Compensation
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