Los Angeles Dodgers owner Mark Walter is facing a proposed class action accusing him and companies tied to his financial empire of concealing billions of dollars in Walter-linked investments from annuity customers while his insurance businesses were under federal investigation.
Filed Sept. 16 in federal court in Miami, the lawsuit was brought by Florida resident Ira Rosner, who says he invested more than $1 million in a Delaware Life Insurance Co. annuity in April. Rosner claims the company had already received federal grand jury subpoenas but did not disclose the investigation before his 30-day window to withdraw his money without penalty expired.
Delaware Life had previously reported about $1.4 billion, or roughly 3% of its invested assets, as affiliated investments. According to the complaint, revised disclosures later showed more than $17 billion in investments that were either directly tied to affiliates or depended heavily on the performance of Walter-related businesses.
Rosner accuses Walter, Delaware Life, Group 1001, TWG Global Holdings and Guggenheim Partners of fraudulent concealment, misrepresentation, breach of contract and related misconduct. He is seeking damages on behalf of other annuity customers who allegedly received similar disclosures.
Insurance companies invest customer premiums and other assets to generate returns and support future payments to policyholders. Regulators scrutinize investments involving related businesses because heavy exposure to companies under common ownership can create concentration risks and potential conflicts, making accurate disclosures particularly important.
According to Rosner, fuller information about Delaware Life’s Walter-linked investments and the federal investigation would have affected his decision to buy the annuity. He later surrendered the policy and claims he lost more than $116,000 through surrender charges and other adjustments.
Separate federal scrutiny has placed Walter’s financial businesses under increasing pressure. Prosecutors in the Southern District of New York and the Securities and Exchange Commission have been examining transactions involving companies connected to Walter, including whether private-credit investments were properly classified and disclosed.
Agents also searched Walter’s private plane at Chicago Midway International Airport in September 2025 and seized a cellphone and computer as part of the inquiry, according to reports. Prosecutors have announced no criminal charges against Walter.
Changes have followed inside the insurance operations. TWG Global announced in August that it planned to exchange as much as $6.5 billion in Walter-related investments held by Delaware Life for assets classified as unaffiliated, while Delaware Life has been reducing its exposure to related businesses.
Group 1001 has said Delaware Life remains financially strong and plans to vigorously defend the lawsuit. TWG Global has said it is cooperating with investigators and disputes allegations of fraud surrounding the federal inquiry.
Walter led the ownership group that bought the Dodgers in 2012 and remains the team’s chairman and controlling owner. The newly filed lawsuit adds a private civil challenge to the scrutiny already surrounding his broader financial businesses.
Proceedings are now before U.S. District Judge Darrin P. Gayles in the Southern District of Florida.
