Family Recovers For Insurance Fraud
A League City widow and her three grandsons settled their insurance fraud lawsuit against a group of insurance companies and agents and a law firm on the first day of a trial in Galveston County Court No. 3. The family of the late Dean E. Merck had alleged that the defendants – two insurance agents, seven insurance companies and a law firm – misled them into converting millions of dollars of stock holdings dating back to the 1940s into inappropriate life insurance and annuities products.
The late Mr. Merck originally invested in shares of stock in the Hathaway Shirt Company, which became what is now known as Berkshire Hathaway, run by legendary investment guru Warren Buffet.
The Merck family was represented by attorneys Craig Eiland of Galveston and Thomas Ajamie of Houston. The case settled after two days of jury selection and opening statements.