A federal judge in California has pared back a lawsuit accusing Toyota Motor Corp. of inflating its stock price by concealing problems with unintended acceleration in its vehicles. U.S. District Judge Dale Fischer in Los Angeles partly granted Toyota’s motion …
In an early test of “say-on-pay” voting, a shareholder sued Hercules Offshore Inc. directors and top executives, demanding that they return big pay increases that shareholders voted against. At last month’s shareholder meeting, 59 percent of Hercules’ shareholders voted against …
A judge granted preliminary approval for Ambac Financial Group Inc., insurers and some banks to pay $33 million to investors to settle litigation accusing the bond insurer of hiding the risks it took on by guaranteeing risky mortgage debt. In …
To provide additional cover to executives and directors at financial companies, whose personal assets are now at greater risk as a result of expanded Federal Deposit Insurance Corp. (FDIC) authority, Marsh has created a new form of insurance protection that …
The number of securities lawsuits filed in 2010 edged above the record number of suits filed in 2009, despite an easing of litigation related to the credit crisis. The number of new suits related to the recent credit crisis fell …
Authorities have been escalating their campaign against corruption in the last few years, resulting in a sharp spike in enforcement actions in the United States and the enactment of a new anti-bribery law in the United Kingdom. For years, the …
Given today’s heightened scrutiny on publicly traded companies and the proliferation of securities class action lawsuits, properly insuring corporate directors and officers has taken on profound importance. Determining the appropriate amount of directors’ and officers’ (D&O) liability coverage to purchase, …
Willis Group Holdings announced that it has appointed Francis Kean, “one of the UK’s leading directors & officers and professional liability lawyers, as an Executive Director in FINEX Global, the insurance broker’s Financial, Executive Risk and Professional Liability business.” He …
Willis Re, the reinsurance advisor and part of Willis Group Holdings, announced that it has merged its teams handling Continental European and UK-based property and casualty business into an expanded European unit and is establishing a new Specialty Casualty Practice …
Accused swindler Allen Stanford may not use $100 million in a Lloyd’s of London directors and officers insurance policy to pay the lawyers defending him on charges of running a $7 billion fraud, a U.S. judge in Texas ruled Wednesday. …
