Wells Fargo Bank, National Association v. Transamerica Life Insurance Company

I. INTRODUCTION AND BACKGROUND

The Court previously set out the factual and procedural background of this case in its February 19, 2020 order. Dkt. 37 (“MTD Order”). For that reason, the Court only sets forth those facts necessary to resolve Transamerica’s present motion to dismiss. Plaintiffs filed this action against defendant Transamerica Life Insurance Company (“Transamerica”) on July 25, 2019, challenging Transamerica’s Monthly Deduction Rate (“MDR’”) increases. Dkt. 1. On February 19, 2020, the Court granted in part and denied in part Transamerica’s motion to dismiss plaintiffs’ first amended complaint (“FAC”). See MTD Order. The Court denied Transamerica’s motion to the extent that Transamerica sought dismissal for lack of personal jurisdiction. Id. at 11. The Court dismissed, however, plaintiffs’ claims for breach of contract, tortious breach of the implied covenant and good faith and fair dealing, and conversion without prejudice. Id. at 23-24. With respect to plaintiffs’ breach of contract claim, “Transamerica moveld] to dismiss plaintiffs’ claim . . . insofar as it is premised on plaintiffs’ allegations that Transamerica increased…