Dodgers Owner Mark Walter Faces Lawsuit Over Annuity Disclosures
Retirement savers have initiated a class-action lawsuit against Mark Walter, owner of the Los Angeles Dodgers, and his insurers, claiming they were misled about the use of funds in annuity investments. The lawsuit, filed by Ira Rosner in the U.S. District Court in Miami on September 16, 2026, targets Delaware Life Insurance Co., Clear Spring Life and Annuity Co., and other related entities.
The plaintiffs allege that Walter's insurers failed to disclose the true extent of related-party investments, initially reported as 3% of Delaware Life's assets, or $1.4 billion. Following a federal investigation, this figure was revised to over $17 billion, representing approximately 40% of assets.
Rosner, who purchased a fixed-index annuity in April 2026, claims he was unaware of the ongoing federal probe and the revised asset figures until after the penalty-free cancellation period had expired. He subsequently surrendered the annuity, incurring losses of $116,575.53 in surrender charges and market-value adjustments.
The lawsuit accuses the defendants of fraud, negligent misrepresentation, breach of contract, and other claims, seeking damages estimated at a minimum of $5 million. The class could potentially include tens of thousands of annuity buyers nationwide.
Federal investigations by the U.S. Attorney’s Office for the Southern District of New York and the SEC are examining the potential misclassification of related-party investments. Both Delaware Life and Clear Spring received grand jury subpoenas in February, with disclosures made in June filings. The insurers and TWG Global Holdings have stated their cooperation with the investigations and denied any wrongdoing.