If You Own or Owned a State Farm Life Insurance Policy issued in Missouri on Form 94030, a Class Action Lawsuit May Affect Your Rights
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On April 19, 2021, the United States Supreme Court denied review of State Farm’s appeal of the Eighth Circuit’s decision approving the trial judgment. Plaintiffs have sought to enforce the judgment, however, State Farm contends it is not obligated to satisfy the judgment until its appeal related to prejudgment interest is resolved. The Eighth Circuit will decide whether Plaintiffs can enforce the judgment now or must await the conclusion of State Farm’s prejudgment interest appeal.
On November 17, 2020, the Court entered an order that awarded Plaintiffs prejudgment interest in the amount of $4,521,674.38. On November 25, 2020, State Farm appealed the order awarding prejudgment interest to the Eighth Circuit Court of Appeals.
On August 24, 2020, the United States Court of Appeals for the Eighth Circuit issued its order denying State Farm’s petition for rehearing en banc.
On June 26, 2020, the United States Court of Appeals for the Eighth Circuit issued its opinion upholding the judgment and rejecting State Farm’s appeal. The Eighth Circuit also found in Plaintiffs’ favor related to the application of prejudgment interest. State Farm subsequently asked for review by all of the judges on the Eighth Circuit, known as “en banc” review.
On October 12, 2018, the Court entered a modified judgment in favor of Plaintiffs in the amount of $34,322,414.84 to account for those policy holders that timely opted out of the class.
On June 6, 2018, the jury returned a verdict and the Court entered judgment in favor of the Plaintiffs on their breach of contract and conversion claims against State Farm and found damages in the amount of $34,333,495.81. State Farm has announced that it intends to appeal the judgment to the United States Court of Appeals for the Eighth Circuit. State Farm will likely file its appeal in late 2018 or early 2019. It is difficult to predict when the Eighth Circuit might decide the appeal, however, the Eighth Circuit is highly unlikely to issue its decision before late 2019.
As a reminder, significant rulings in this case will be posted to this website. Given the pending appeals, it is not currently known when payments will be made to class members. Please check this site frequently for updates.
Questions? Read the Notice.