Judge cites survey showing no reliance in denying class certification

In this case, a provider of variable annuities was sued by purchasers of the fund, who claimed that they were misled into believing that a mutual fund they purchased for their annuity was one particular fund when in reality, it was a completely different fund. Applied Marketing Science (AMS) conducted a survey among putative class members, which showed that less than 1% of alleged class members made their decisions based on the same things as the class representatives. The judge denied the claims of the class, citing the AMS survey in his decision.

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