On February 19, 2009, Judge Boyle, U.S. District Judge for the Northern District of Texas, granted Indianapolis Life Insurance Company’s individual motion to dismiss a putative nationwide class action filed against multiple insurers relating to the design, marketing and sale of life insurance policies purportedly used to fund IRS Code § 412(i) defined benefit pension plans. The court dismissed plaintiffs’ conspiracy claim on the grounds that no facts were pleaded which suggested that the insurance company defendants “conspired with one another,” and the court found “highly implausible” the allegation that several insurance company competitors all agreed to market and sell life insurance policies as part of defined benefit plans which they knew would be declared invalid several years later. The court dismissed plaintiffs’ fraud claims for failure to plead fraud with specificity, and noted that the complaint failed to demonstrate why alleged representations regarding the validity of plaintiffs’ § 412(i) plans made several years prior to IRS guidance issued in 2004 were false when made. The court also held that any predictions by an alleged Indianapolis Life agent regarding how the IRS would treat § 412(i) plans in the future was “either an unactionable opinion or was unjustifiably relied upon.” Indeed, the Court found that Indianapolis Life was “not alleged to be specially situated to predict future tax treatment by the IRS, nor would it be reasonable for Plaintiffs to rely on such a projection.” Jorden Burt represents Indianapolis Life in this case.