Bobbitt Settlement Administrator Valic Class Action Lawsuit

PseudonymBobbitt Settlement Administrator Valic Class Action Lawsuit
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Scamdoc Trust Score | Contact / Whois info
Scam contentsIf you had a retirement account with Variable Annuity Life Insurance Company
(VALIC) between April 27, 1998, and April 18, 2003,
You could benefit from a Class Action Settlement
A Federal Court authorized this Notice. This is not a solicitation from a lawyer.
• You have been identified from the records of the Variable Annuity Life Insurance Company (VALIC) as someone who
purchased an individual variable deferred annuity contract, or who received a certificate to a group variable deferred
annuity contract issued by VALIC, or who made an additional investment through such a contract, on or after April 27,
1998, to April 18, 2003, that was used to fund a contributory retirement plan or arrangement qualified for favorable tax
• A settlement has been reached (“Settlement”) with certain lawyers and firms (“Defendants,” see Question 1 for a complete
list) in a class action lawsuit.
• The Settlement provides payments to eligible class members from a Settlement Fund of $32.15 million (plus up to
$1 million in addition for the cost of class notice) that will resolve the Class Action, including your claims as a Class
Member, as described below. The Settlement Fund will be distributed in accordance with a plan of distribution to be
approved by the Court. It is estimated that there are approximately 1.3 million members of the Class.
Comment / ReviewPeople have reported that they were receiving letters about a certain settlement that they did not even sign up to be a part of.

it's the "Bobbitt Settlement Administrator Valic Class Action Lawsuit".it was also accompanied with a claim form that you can fill in so you'd get the promised compensation but there are a number of things that are wrong with this:

- They asked for your social security number, now why would they do that, if this was real you'd get the invoice from valic also known as Corebridge Financial and not Rust consulting.
Actually if this was legit then Corbridge would not need to ask for your ssn again through a third party.

-Rust consulting which is the firm in question has done this before where they promised settlements, had people enroll, then either charged them a "return item fee" after their victims checked their settlement checks, or just remained unresponsive and did not follow up on their promises.

-Their customer service line is always busy or unresponsive.

-They may be accreditted by the BBB but you can see for yourself how many people they phished already using the "aha there's a settlement" method through this link :

-Back to the letter that you probably received since you're reading this, there was not a return address nor a return envelope there as well.

In conclusion, they are after your social security number and your personal data, you might get 20 bucks or nothing at all but they won't pick up the phone and no one knows what they'll do with the data they got from you. This is not the first time they make a settlement phishing scam.

Don't give out your information

  • More info +
    • Reviews and comments left by Internet users are sorted in chronological order and are not checked a priori

      • Linda 05/17/2023 at 02:46 PM

        I spoke to a representative at Corebridge (the parent company for VALIC). She said the settlement is legitimate. I recommend you contract your agent or VALIC if you are unsure.

      • Sandra 05/18/2023 at 08:29 AM

        I also received the form from Bobbitt Settlement Administrator, c/o Rust Consulting Inc. It was a read flag, to me, to have to enter my social security number, so after further investigation, I came to this site. The reviews are enough for me to trash this "Fake" document.

      • Toni 05/18/2023 at 04:03 PM

        Same here. As soon as I saw the social security information needed, I stopped. They shouldn’t need my SS number for anything.

      • Jeff85 05/20/2023 at 06:49 PM

        Same here. Tell your friends who may have VALIC about this and those with any other retirement accounts to beware of scams like this.

      • DonP 05/21/2023 at 03:05 PM

        I don’t even have a VALIC account and not sure I ever did but, as it’s for so far in the past, it made me wonder if I had had one through some employer at the time as part of a package. Certainly if I did, I would have no way to retrieve any account numbers and would definitely NOT supply my social security number.

      • Phyllis 05/22/2023 at 12:51 PM

        I don't know if it's true or not, I did send the form back in, but not my SS number. I'm not that crazy. I did have VALIC.

      • Rosa M. Richardson 05/22/2023 at 03:07 PM

        05/22/2023 at 3:06 PM

        My husband Alfred R. Richardson is deceased. I am his Personal Representative for his Estate. My name is Rosa M. Richardson. I don't know his VALIC Account Number.

      • Zachary Beck 05/25/2023 at 12:57 PM

        The settlement is legit. Go to At the top right of the page, click on the documents tab. Then click on the first PDF link titled "Stipulation of Class Action Settlement and Releases (also called the Settlement Agreement)." Scroll to page 7 of the document where the document is defining terms used in the document. On page 7 at the second paragraph from the bottom it says: "Settlement Administrator means . . . Rust Consulting, Inc. of Minneapolis, Minnesota." Further, the case number at the top of each page matches the case number in Pacer, which is the e-filing system federal courts use.

      • Tom K 05/26/2023 at 04:12 AM

        Like to know what to do is it true or not. I did have a valic account but don't want to be scammed. But if owed money I would like it. Don't know what to do.

      • Liz U 05/26/2023 at 01:30 PM

        If you read literature found on website, it says you do not need to put SS # on form. SS# is needed if you did not receive letter & are submitting an online form. It is stated that if you received form letter, they already have adequate information & I suspect it is a matter of getting your signature indicating you are not opting out. I will be returning the form. Probably will not be much money, but who knows.

      • Guy Hohmann 06/01/2023 at 02:57 PM

        I am one of the lawyers representing the class representatives in the case. This is a legitimate settlement. As Liz U correctly notes, you do not need to put your SSN on the written form you received. If you want to independently verify information on the case, call the United States District Court of Arizona (Tucson location) and ask for one of the court's clerks to verify the cause number of the case that is referenced in the notice you received under "What is this about" section. The cause number is CV-01042-TUC-WDB.

      • BHarr 06/05/2023 at 03:51 PM

        They only ask for the SS# "if different from above". "Above section # 1, does not ask for SS#.

        Amazing how many people don't read instructions. The only additional info you may give them is your phone number.

      • SauteeBarb 08/08/2023 at 01:53 PM

        Wonder who is pushing this "scam" idea. If all the skeptics don't file the form before the October 5 2023 deadline, there will be fewer people to split the pot!

      • TK 08/23/2023 at 04:48 PM

        Responding to Bharr, who said they only ask if the SS# if different from above... Well my letter does not have it different.. I thought your comment was helpful but I believe some of us got a different letter. So I would suggest you contact the court like the attorney said or leave it.

      • carm 02/07/2024 at 05:54 PM

        I filled up the form as instructed. I don't remember asking my son. just the account number .. I just received portion of settlement, not much but it's ok. its not a scam.

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