November 12, 2014
A motion to dismiss Schlam Stone & Dolan client AXA's lawsuit against ING Insurance International was denied by New York County Commercial Division judge Eileen Bransten. AXA alleges that ING misled it about the financial condition of a Mexican insurance company AXA bought from ING for $1.5 billion in 2008. Although AXA’s claim for punitive damages as well as another minor claim were dismissed, the lawsuit's core allegations of misrepresentation and breach of contract survive, as does AXA's request for a declaratory judgment concerning potential future losses. Schlam Stone & Dolan's AXA team is lead by partners Jeffrey Eilender, who argued the motion, John Lundin, and Erik Groothuis. AXA is also represented by attorneys from Mayer Brown, LLP.
Coverage of the case can be found here:
- Law 360, published on February 22, 2012