Citizens Insurance Company of America Citizens, Inc. Harold E. Riley and Mark A. Oliver v. Dr. Fernando Hakim Daccach
This case addresses an interlocutory appeal concerning the certification of a class action. Appellants, including Citizens Insurance Company of America, challenged the district court's decision to certify a class action brought by Dr. Fernando Hakim Daccach. Dr. Daccach alleged that Citizens unlawfully sold unregistered securities in Texas, specifically certain life insurance policies (CICA policies) that allowed assignment of benefits to offshore trusts for stock purchases. The Court of Appeals affirmed the district court's class certification order, with a modification to the class definition. The court found that all class certification requirements were met, including proper class definition, the applicability of Texas law without a "most significant relationship" analysis, and the predominance of common issues.