Illinois Funeral Directors File Lawsuits Against Comptroller-yourfuneralguy

23 Jul

Illinois Funeral Directors are suing various arms of the State of Illinois, IFDA, and Merrill Lynch.

Illinois Funeral Directors are suing various arms of the State of Illinois, IFDA, and Merrill Lynch.

Illinois Funeral Directors who are suing the IFDA(Illinois funeral directors Association)  for losses coming close to 100 million dollars in the IFDA preneed trust fund are now suing the regulator, the Comptroller of the State of Illinois and others.

The Plaintiffs are suing State comptroller Dan Hynes, Division of Insurance head Michael McRaith,  and Merrill Lynch, the IFDA’s former financial advisor and current trustee of the IFDA preneed trust.

This is the original Lawsuit: View Here Amended Derivative Complaint

Calvert Funeral Homes, et al. v. Robert W. Ninker, et al.
Case No. 09 CH 03624 (Cook County, IL)

This is the lawsuit against the Comptroller and other regulators and Merrill View here Declaratory Judgement

Fred C. Dames Funeral Homes, Inc., et al. v. Daniel W. Hynes, et al.
Case No. 09 CH 21989 (Cook County, IL)

This lawsuit against Merrill Lynch: View here Jury Trial

Clancy-Gernon Funeral Homes, Inc., et al v. Merrill Lynch, Pierce, Fenner & Smith, Inc., et al
Case No. 09 CH 20736 (Cook County, IL)

From the Illinois Senate Press:

“Funeral directors have filed another lawsuit related to a failed pre-need funeral trust fund once administered by the Illinois Funeral Directors Association…..

In the lawsuit, filed in Cook County July 7, funeral directors are asking a judge to nullify provisions in a settlement agreement between the Department of Insurance and Merrill Lynch, which agreed to pay an $18 million fine but admitted no wrongdoing.

The money is supposed to go to funeral directors who must first sign documents releasing Merrill Lynch from liability.”

THE LAWSUIT PILE ON FOR THE CONSUMER MEANS MORE FUNERAL COSTS.

All the parties feel they are justified in their actions, but you the consumer loose.

Funeral Industry, Funeral blog by Your Funeral guy

Your Funeral Guy

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