This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Real GEICO Customer Tony Dane Sues GEICO And Wins

LAS VEGAS, Feb. 6, 2013 /PRNewswire/ -- Like a story straight out of Hollywood, a Las Vegas businessman takes on behemoth GEICO Insurance Company and wins.

(Photo: http://photos.prnewswire.com/prnh/20130206/LA55647-a)

(Photo: http://photos.prnewswire.com/prnh/20130206/LA55647-b)

In 2007, following lunch with a friend, Tony Dane found his car missing when he returned to the parking lot where he parked his car. Dane promptly filed a claim with his insurance company, GEICO.

Forty days later Dane's car was recovered with significant damage. GEICO's solution to repairing Dane's car was to offer him an engine from a junk yard. When Dane rejected the junk yard engine and demanded GEICO properly repair his car, they denied his claim stating Dane stole his own car.

"GEICO put me through a living hell," stated Dane in testimony. "First they deny my claim, and then they have an investigator try to intimidate me.  When that didn't work they tried to use the power of the Nevada Attorney Generals office. They were willing to throw me in jail to save $12,000 that is how GEICO operates."

As the sole custodial parent of his children, Dane feared for their future. Dane decided to take action. He hired an Attorney, who was also a friend, and sued GEICO.

However, after representing Dane for years against GEICO, his Attorney took ill and could not continue.  "I was left without an Attorney and was in way over my head," Dane said as he reminisced after the conclusion of Monday's trial.   

Dane decided to pursue the case as his own Attorney.

Last week in a Las Vegas courtroom Dane squared off against GEICO in a modern day version of David and Goliath. During the six day trial, Dane took on GEICO Attorney Jack Angaran, Senior Investigator Jud Beardsley and Claims Handler Greg Balmer.

Using GEICO's own letters and the Nevada Unfair Insurance Practices Act, Dane laid out a case asserting that GEICO significantly increased his costs and denied his claim based on his supposed poor financial circumstances at the time of the claim. The jury of three men and five women sided with Dane handing him a victory in his lawsuit against GEICO in a 6-2 decision.  Dane later stated that if he was a more knowledgeable on the legal process he could have convinced the remaining two. 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs