A federal judge has refused to dismiss a class-action suit against LifeUSA Holdings Inc. that alleges the company defrauded investors who bought one of its most popular annuities by misrepresenting the interest they would earn.

In his 17-page opinion in Benevento v. LifeUSA Holding Inc., U.S. District Judge J. Curtis Joyner ruled that a jury must decide if the contract for the company’s “Accumulator” annuity was “ambiguous,” “misleading” and “confusing.”

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