09/18/26 11:13:00
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09/18 18:28 CDT Dodgers owner Mark Walter sued over alleged failure to disclose
federal probe to policyholders
Dodgers owner Mark Walter sued over alleged failure to disclose federal probe
to policyholders
MIAMI (AP) --- Los Angeles Dodgers owner Mark Walter and multiple insurance
companies he owns have been sued, alleging they failed to disclose an ongoing
federal probe to customers while directing policyholders' money into Walter's
other companies.
The lawsuit lists Walter, Delaware Life Insurance Co., Clear Spring Life and
Annuity, TWG Global Holdings and Walter's Guggenheim Partners investment firm
as defendants.
Ira Rosner, a 67-year-old Florida man, brought the class-action lawsuit in U.S.
District Court in Miami on Wednesday. He purchased a policy from Delaware Life
in April and he had until late May to withdraw his money without penalty.
However, the company did not disclose the investigation to him until June,
Rosner is seeking a jury trial in the lawsuit that seeks damages for negligent
misrepresentation, breach of contract and aiding and abetting fraud.
TWG Global didn't immediately respond to a request for comment on the lawsuit.
Walter has been under investigation since last year by the U.S. Attorney's
Office in Manhattan and the Securities and Exchange Commission following a
whistleblower complaint regarding alleged misrepresented loans made between
companies within his business portfolio.
TWG Global Holdings is the holding company through which Walter controls
Delaware Life, Clear Spring Life and Annuity Co. and his stake in Guggenheim
Partners. TWG Global denied any wrongdoing involving the probe in a statement
last month.
Walter and co-owner Todd Boehly sold their stakes in English Premier League
club Chelsea this week. Last month, Walter agreed to sell the Los Angeles
Lakers in a surprise move less than a year after buying the NBA franchise from
the Buss family. The deal is under review by the league.
The Dodgers have been adamant that Walter has no plans to sell the baseball
team.
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