Dameware Development, L.L.C. v. American General Life Insurance

CARL E. STEWART, Circuit Judge:

Dameware Development, LLC Defined Benefit Pension Plan and Trust (“Dame-ware” or the “Plan”) 1 bought several life insurance policies (the “policies”) from American General Life Insurance Company (“American General”). After Dame- ware was unable to obtain the tax benefits it hoped would result from purchasing the policies, it sued American General for damages and for rescission of the contract. The district court granted summary judgment to American General. Because we conclude that Dameware has not shown any basis for rescinding the contract nor any contractual…