French firm settles Armenian genocide suit

first_img The lawsuit against AXA was filed in Los Angeles three years ago. The company was sued because it had purchased L’Union Des Assurances de Paris, which sold life insurance policies to Armenians. France was one of the first countries to recognize the deaths as genocide. The United States and Turkey, formerly the Ottoman Empire, have not made that acknowledgment. “Beyond compensating the victims, your action once more demonstrates the reality of the genocide committed against the Armenian people and the necessity for modern-day Turkey … to recognize and repair its mistakes,” the Armenian National Committee of France said in a statement about the settlement.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week “We wanted the matter resolved, and we were able to come to an agreement,” plaintiffs’ attorney Vartkes Yeghiayan said Thursday. AXA admitted no wrongdoing in the settlement and released a statement saying, “We are very happy to have reached an accord with the Armenian community.” Last year, Snyder approved a $20 million settlement between New York Life Insurance Co. and heirs of some 2,400 policyholders. It was believed to be the first ever in connection with the disputed event. Turkey rejects the genocide claim and maintains that Armenians were killed in civil unrest during the collapse of the empire. Yeghiayan said a third lawsuit is pending in a German court that makes similar allegations against an insurance company. That suit involves descendants of about 300 policyholders, he said. LOS ANGELES — — A French life insurance company has agreed to pay $17 million to settle a class-action lawsuit filed by descendants of Armenians killed 90 years ago in the Turkish Ottoman Empire. It was the second case settled in the past 15 months claiming relatives of people who died were not paid benefits after the alleged genocide of 1.5 million Armenians from 1915 to 1923. The latest agreement was reached between AXA and heirs of policyholders. It will be considered for final approval on Nov. 14 by U.S. District Court Judge Christina Snyder. Under terms of the deal, $11 million will be split by as many as 5,000 descendants; $3 million will go toward French-Armenian charities; and the remainder will be used to pay attorneys and administrative costs.last_img

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