Opinion ID: 3011818
Heading Depth: 2
Heading Rank: 3

Heading: New England’s December 12, 1995 letter

Text: On December 12, 1995, Stephen Chiumenti, an attorney employed by New England, wrote a letter to Roush 4 admitting New England’s failure to invest properly Roush’s funds. Among other matters, Chiumenti represented that: . . . we want to confirm that the instructions that we received dated May 22, 1995 continue to be valid directions. If so, we will implement them immediately without prejudice to your rights regarding the intervening delay. Subsequently, most of the Plan funds in the General Account were transferred to the Separate Accounts on December 14, 1995, except for approximately $25,000 which, contrary to Roush’s instructions, apparently remained in New England’s General Account. In a July 17, 1996 letter to Roush, Chiumenti wrote that New England wished to put Roush in the same place he would have been put, as [i]t is our intention, as expressed in my prior letter and every communication we have had, to adjust your plan accounts to reflect the instructions as you believe they should have been implemented.