KASOWITZ, BENSON, TORRES & FRIEDMAN LLP

101 CALIFORNIA STREET, SUITE 2300
SAN FRANCISCO, CALIFORNIA 94111

Case 2:

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-cv-09198-JVS-RNB Document 398 Filed 02/15/13 Page1of3 Page ID #:17714

KASOWITZ, BENSON, TORRES & FRIEDMAN LLP

CHARLES N. FREIBERG (SBN 70890)
BRIAN P. BROSNAHAN (SBN 112894)

JACOB N. FOSTER (SBN 250785)
101 California Street, Suite 2300
San Francisco, California 94111
Telephone: (415) 421-6140
Facsimile: (415) 398-5030

LEVINE & MILLER

HARVEY R. LEVINE (SBN 61879)
CRAIG A. MILLER (SBN 116030)
LEVINE & MILLER

550 West C Street, Suite 1810

San Diego, CA 92101-8596
Telephone: (619) 231-9449
Facsimile: (619) 231-8638

Attorneys for Plaintiffs

JOYCE WALKER, KIM BRUCE HOWLETT,
and MURIEL SPOONER, on behalf of themselves

and all others similarly situated

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA

JOYCE WALKER, KIM BRUCE
HOWLETT, and MURIEL SPOONER,
on behalf of themselves and all others
similarly situated,

Plaintiffs,
V.
LIFE INSURANCE COMPANY OF
THE SOUTHWEST, a Texas
corporation,

Defendant.

CLASS ACTION
CASE NO.: CV 10-9198 JVS (RNBx)

Formerly Case No.: 3:10-cv -04852 JSW
from Northern District of California

PLAINTIFFS’ EVIDENTIARY
OBJECTIONS TO THE
DECLARATION OF CRAIG SMITH
IN OPPOSITION TO PLAINTIFFS’
MOTION FOR LEAVE TO FILE
THIRD AMENDED COMPLAINT

Judge James V. Selna
Date: March 4, 2013

Time: 1:30 p.m.
Courtroom: 10C

OBJECTIONS TO SMITH DECLARATION IN OPPOSITION TO MOTION FOR LEAVE TO FILE TAC

Case No. CV 10-9198 JVS (RNBx)

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KASOWITZ, BENSON, TORRES & FRIEDMAN LLP

101 CALIFORNIA STREET, SUITE 2300
SAN FRANCISCO, CALIFORNIA 94111

Case 2:

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-cv-09198-JVS-RNB Document 398 Filed 02/15/13 Page 2of3 Page ID #:17715

Plaintiffs Joyce Walker, Kim Bruce Howlett, and Muriel Spooner

(“Plaintiffs”) hereby object to the Declaration of Craig Smith, submitted by

Defendant Life Insurance Company of the Southwest (“LSW’’) in opposition to

Plaintiffs’ motion for leave to file Third Amended Complaint:

Evidence

Grounds for Objection(s)

Pg. 1, 73:

“T disagree with Plaintiffs’
characterization of my testimony
as stating that LSW lacked the
intent to provide those non-
guaranteed enhancements.”

1. Argumentative and misleading. The
proffered material is not testimony but
argument, and it misstates Plaintiffs’ motion
papers and proposed Third Amended
Complaint. Plaintiffs do not characterize Mr.
Smith as “stating that LSW lacked the intent
to provide” non-guaranteed benefits.
Plaintiffs rely on Mr. Smith’s testimony as to
facts from which Plaintiffs argue that
inferences can be drawn about LSW’s intent.
FRE 403.

Pg. 1, 94:

“LSW’s GAAP accounting
anticipates a 1.25% increase in
the interest credited under the
Provider policy beginning in
policy year ten.”

1. Lacks foundation. Mr. Smith provides no
foundation for or explanation of “GAAP
accounting” or the purpose of that accounting
as used by LSW in this instance. FRE 602.

2. Vague, ambiguous. Fails to explain what
aspect of “GAAP accounting” he refers to or
the purpose of such accounting. Fails to
specify what it means for the GAAP
accounting to “anticipate” a 1.25% increase.
FRE 403 and 611 (a).

3. Irrelevant. Irrelevant to LSW’s actual
intent to provide the Account Value
Enhancement to the extent that the purpose of
GAAP accounting 1s, like illustration actuary
testing, simply to quantify what LSW’s costs
and revenues would be if all illustrated non-
guaranteed benefits were provided. FRE 403.

OBJECTIONS TO SMITH DECLARATION IN OPPOSITION TO MOTION FOR LEAVE TO FILE TAC

Case No. CV 10-9198 JVS (RNBx)

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KASOWITZ, BENSON, TORRES & FRIEDMAN LLP

101 CALIFORNIA STREET, SUITE 2300
SAN FRANCISCO, CALIFORNIA 94111

Case 2:110-cv-09198-JVS-RNB Document 398 Filed 02/15/13 Page 3of3 Page ID #:17716

!! DATED: February 15,2013 ©KASOWITZ BENSON TORRES & FRIEDMAN
LLP

By: _s/Brian P. Brosnahan
Brian P. Brosnahan

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OBJECTIONS TO SMITH DECLARATION IN OPPOSITION TO MOTION FOR LEAVE TO FILE TAC
Case No. CV 10-9198 JVS (RNBx)
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