BRASILIA – Brazilian petrochemical company Braskem SA said on Wednesday it reached a 9.1 billion reais ($1.75 billion) deal to settle lawsuits over cracks and sinking ground near its salt mines in the city of Maceio that requires thousands to …
Cigna Corp.’s chief executive officer and board used “black-ops-style” tactics in a covert campaign to “blow up” a $48 billion merger with rival insurer Anthem Inc., Cigna investors claim in a lawsuit. A Massachusetts-based pension fund alleges that Cigna CEO …
Praedicat, the Los Angeles-based liability emerging risk modeling firm, has developed an insurance tool for the casualty insurance market, which allows insurers to track exposures, establish reserves, and manage aggregations in the face of this generation’s largest emerging risk, the …
Apple Inc has been ordered to face a proposed class-action lawsuit by shareholders who accused Chief Executive Tim Cook of concealing falling demand for iPhones in China, resulting in billions of dollars of investor losses. In a decision on Wednesday, …
The former president of Blue Bell Creameries has been charged with wire fraud for allegedly trying to cover up a 2015 listeria outbreak linked to the company‘s ice cream that killed three people in Kansas and sickened several others, federal …
Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest because the FDIC waited too long —18 months after a final judgment — to try to collect it. The action …
A U.S. judge on Monday dismissed a lawsuit accusing Denmark’s Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch. U.S. District Judge Valerie Caproni …
Former Wirecard AG executive Jan Marsalek was added to Interpol’s red notice list, sparking a worldwide manhunt for one of the executives allegedly at the center of a multibillion-euro accounting scandal at the fintech company The move alerts police worldwide …
Premiums for directors’ and officers’ liability insurance surged in the second quarter, broker Marsh said on Monday, as insurance underwriters fear the coronavirus pandemic will lead to hefty litigation claims. Premiums for directors’ liability insurance, known as D&O, in Britain …
German Finance Minister Olaf Scholz intends to unveil a reform of the government’s financial oversight, as the widening scandal over the collapse of Wirecard AG reaches the highest levels of Chancellor Angela Merkel’s government. Scholz’s 16-point “action plan” would install …
