In a recently filed lawsuit, talk show host Larry King alleges that he was deceived into selling two life insurance policies by The Meltzer Group. King is suing the firm and its principal, Alan Meltzer, for breach of fiduciary duty. In his complaint, King alleges that Meltzer pushed him into the sale of two life insurance policies against King’s interest, never taking into account King’s financial condition, health, and likelihood of his future uninsurability. Although he made a total of $1.4 million of profit on the sales, King claims his family would have gained far more had he held onto the policies. King asserts that the policies were worth $15 million.
News reports of King’s suit can be found here. A copy of the complaint may be viewed here.
