Cincinnati, Ohio law firm Helmer, Martins, Rice & Popham, Co., L.P.A. has partnered with New York law firm Sarraf Gentile LLP to prosecute a class action lawsuit representing all financial advisors harmed by Ohio National Financial Services, Inc. and its affiliated companies’ decision to stop paying trail commissions as promised.
In September 2018, Ohio National announced it was ceasing all trail commissions that were owed to those who sold Ohio National’s variable annuity policies that included a guaranteed minimum income benefit rider. Despite promising to pay trail commissions until and unless such annuities were surrendered or annuitized, Ohio National is now refusing to pay the commissions on existing annuities.
On March 11, 2019, Helmer Martins filed a class action lawsuit on behalf of all securities representatives harmed by Ohio National’s unilateral and unprecedented actions. You can read our Class Action Complaint in Case No. 1:19-cv-00195 filed in the Southern District of Ohio.
If you are a broker-dealer or financial advisor impacted by Ohio National’s decision or if you have received a termination letter from Ohio National, please contact us us today to discuss your legal rights or how to join the class action, at no cost and without obligation.
For nearly 37 years, Helmer Martins has focused on litigating the toughest and most complex cases in the country, including class actions. Five of our cases were featured in front page articles in the Wall Street Journal, a sixth on the front page of the New York Times, and four on the television show, 60 Minutes. Our lawyers are repeatedly recognized by organizations such as Best Lawyers in America, the National Law Journal, Super Lawyers, US News and World Report, and Taxpayers Against Fraud. Collectively, our cases have recovered far in excess of $1 Billion.
Sarraf Gentile LLP has extensive experience litigating class actions across the United States and has recovered millions of dollars on behalf of its clients. The firm’s focus is on complex financial and regulatory matters that arise under various federal and state laws. The firm’s attorneys have been appointed by numerous judges to serve as lead counsel in class actions and other complex commercial litigation. RiskMetrics Group and Securities Class Action Services recognized the firm as being among the top 50 law firms in the country involved in securities class action litigation.