Credit Suisse Lending Trust USA v. Transamerica Life Insurance Company

I. INTRODUCTION

On March 16, 2020, plaintiffs brought the instant action against defendant Transamerica Life Insurance Company (“Transamerica”) based upon Transamerica’s alleged wrongful increases of the monthly costs of 30 universal life insurance policies (“Policies”). Dkt. 1 (“Compl.”). On May 19, 2020, Transamerica filed a motion to dismiss plaintiffs’ complaint, Dkt. 26-1, which the Court granted in part and denied in part on July 13, 2020, Dkt. 38 (“July 13, 2020 Ord.”).’ Plaintiffs filed a first amended complaint on August 12, 2020. Dkt. 40 (“FAC”). Defendant filed the instant motion to dismiss plaintiffs’ FAC on August 26, 2020. Dkt. 41 (“MTD”). Plaintiffs filed an opposition on September 28, 2020, Dkt. 44 (“Opp.”), and Transamerica filed a reply on October 5, 2020, Dkt. 45 (“Reply”). The Court held a hearing on October 19, 2020. Having carefully considered the parties’ arguments, the Court finds and concludes as follows.

The Court previously set out the factual background of this case in its July 13, 2020 order. The Court therefore incorporates by reference the facts laid out in that order, and only provides those facts necessary to…