Allianz, a German insurance and asset management company, was hit with an insurance class action Friday in Texas Eastern District Court. The suit was brought by McKool Smith P.C. and Corley Law Firm on behalf of policyholders who accuse Allianz of adding improper charges on annuity contracts. Counsel have not yet appeared for the defendant. The case is 4:21-cv-00805, Nelson et al v. Allianz Life Insurance Company of North America.

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Read the complaint: