The class-action lawsuit against American Skandia Life Assurance Corp. has been dismissed, according to Skandia Insurance Co. The former parent company was still liable for the case even though the sale of the American subsidiary to Prudential Financial closed last year.

The case pertained to the sale of variable annuities within qualified plans, and claimed that American Skandia’s prospectuses were misleading, containing both misstatements and omissions regarding the suitability of variable annuities to fund qualified plans.

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