- Representing a life insurer in a putative RICO class action involving alleged misrepresentations and omissions about proprietary, volatility-controlled market index crediting options available on fixed index annuities and illustrations of such crediting options.
- Representing a life insurer in a putative breach of contract and RICO class action involving allegedly deceptive illustrations of indexed universal life crediting options.
- Representing a life insurer in a putative class action alleging California Unfair Competition Law and Education Code violations arising out of alleged disclosure issues with respect to certain charges on fixed index annuities.
- Secured decision from a panel of arbitrators in favor of reinsurer, concluding that yearly renewable term rate increases and amount of rate increases were permissible under several reinsurance treaties.
- Defeated nationwide class certification in a putative class action in federal court alleging breaches of cost of insurance provisions in universal life policies.
- Obtained a federal court ruling that causation and damages were too individualized for class treatment in an action involving increases to cost of insurance rates for and other administrative changes to interest-sensitive whole life policies.
- Obtained dismissal on the pleadings in two separate RICO class action involving the sales and marketing of fixed indexed annuities, including the design and marketing of non-traditional index crediting options offered on those annuities.
- Won summary judgment and defeated class certification for a life insurance company in a RICO and breach of contract nationwide class action involving sales and marketing of and standard nonforfeiture requirements for fixed indexed annuities.
- Won summary judgment and defeated class certification for a life insurance company in a breach of contract putative class action arising out of the application of an express provision in annuity policy forms and involving billions of dollars in potential exposure.
- Won summary judgment for a life insurance company in a cost of insurance class action.
Samuel J. Park
Partner,
- Phone: +1 213 576 2687
- Email: samuel.park@alston.com
Sam is a Chambers-ranked litigator in insurance and reinsurance, known for his strategic defense and guidance in high-stakes class actions and complex regulatory matters. He has a proven track record representing insurers and reinsurers in major litigation and arbitration.
- Defeated class certification in a senior sales annuity putative class action involving allegations of unsuitable and deceptive sales.
- Obtained settlement on favorable terms in a California class action involving alleged misrepresentations and omissions in the administration of universal life policies.
- Resolved a putative California class action arising out of the marketing and sale of fixed annuities after obtaining denial of class certification on highest exposure claims.
- Resolved a putative nationwide class action involving the marketing and sale of nutritional supplements.
- Secured dismissal of all claims for a marketing company in a matter involving allegations of fraud, business interference, and trade secret misappropriation in connection with a failed business venture.
- Represented a financing company to recover damages for construction defects in a senior living residential apartment complex.
- Defended a leading pharmaceutical company in a putative nationwide RICO class action arising out of the marketing and sale of testosterone replacement therapy drugs.
- Defended three California counties in putative class actions arising out of a home renovation loan program.
- Defended a California state retirement benefit agency in a putative class action arising out of interest payments on retirement benefits.
- Defended a financial services company and investment manager against claims of breach of fiduciary duty and fraud in connection with wealth management services.
- Defeated class certification in a putative nationwide RICO class action with billions of dollars in potential exposure involving the marketing and sale of annuities.
- Advised a financial services company in analyzing risks associated with insurance sales.
- Advised a foreign insurer regarding the procedure for issuing insurance in the U.S.
Sam Park is the hiring partner of Alston & Bird’s Los Angeles office . He is trusted for his strategic approach to class actions—defeating claims both on the merits and at the class certification stage and minimizing client exposure in cases that proceed to settlement.
Sam’s expertise covers every phase of class action litigation, including discovery, summary judgment, class certification, expert motions, pre-trial preparation, settlement negotiations, and trial. He is adept at navigating the complexities and costs of class actions, staying ahead of evolving legal standards, and implementing strategies that deliver effective outcomes.
Throughout his career, Sam has represented clients in matters involving the RICO Act violations, fraud, unfair competition, trade secret misappropriation, business interference, breach of contract, and breach of fiduciary duty. He has a distinguished track record defending life insurers in consumer class actions involving annuity sales and marketing, disclosures, volatility-controlled market index performance, product design, cost of insurance (COI) provisions, and regulatory compliance. He has represented both life insurers and reinsurers in arbitration proceedings regarding disputes over the interpretation of reinsurance treaty provisions.
Sam has been recognized as one of the “Most Influential Minority Attorneys” by the LA Business Journal.
Bar Admissions
- California
Education
- University of San Francisco (J.D., 2006)
- University of California, Berkeley (B.A., 2000)
Memberships
- Association of Life Insurance Counsel
Accolades
- Chambers USA – Insurance: Insurer; Insurance: Reinsurance