Many organizations purchase management liability insurance
to provide liability and defense cost protection for their directors and
officers. But the management liability insurance protects the individuals only
for their actions undertaken in an "insured...
Diamond Foods, Inc . Derivative Litigation , C.A. No. 7657-CS
(Del. Ch. Feb. 28, 2013) [ an enhanced version of this opinion is available to lexis.com subscribers ].
Issue Addressed : Whether
a derivative suit filed in Delaware should be dismissed...
The modern public company D&O insurance policy
provides coverage not only for the directors and officers of the company but
also for the company itself - however, in the public company D&O insurance
policy, the entity coverage applies only...
by Brandi Walkowiak
On February 28, 2013, Germany's Federal Cartel Office
("GFCO") searched the offices of three steelmakers as part of an antitrust investigation
into steel supplies to the automotive industry. Specifically, GFCO raided...
In a first for the Department of Justice ("DOJ")
Antitrust Division, the Division entered into a Deferred Prosecution Agreement
("DPA") with a financial institution for its involvement in an alleged LIBOR-rate
WASHINGTON, D.C. - (Mealey's) American Express Co. (AmEx)
told the U.S. Supreme Court on Feb. 27 in oral arguments that the Second
Circuit U.S. Court of Appeals erred in ruling that a mandatory class action
waiver clause in AmEx's standardized...
The issue of tax avoidance by corporations is a hot one.
In the US and in the UK, legislators and pundits seeking "tax justice" have
changed the discussion from one of tax breaks that stimulate "jobs and growth"
to one of tax fairness...
wave of "say on pay" litigation involved lawsuits brought by shareholders
following a negative advisory say on pay vote under the Dodd-Frank Act. The second
wave of say on pay litigation , which picked up in 2012, involved
Investors, LLC v. Genger , C.A. No. 6697-CS (Del. Ch. Feb. 18, 2013).
Issue addressed :
Whether the doctrine of "issue preclusion" prevented the relitigation of issues
previously decided, and thus supported the grant of a motion for...
WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on
Feb. 19 ruled that the state-action doctrine does not immunize the merger
between two Georgia hospitals from the Federal Trade Commission's challenge
that the transaction substantially...
v. Crothall , C.A. No. 6001-VCP (Del. Ch. Jan. 31, 2013)
This 74-page opinion addresses the allegations of a
minority unitholder in an LLC who asserts claims that the directors breached
their fiduciary duties in connection...
WASHINGTON, D.C. - (Mealey's) The U.S. Department of
Justice announced that a federal judge in Louisiana has accepted Transocean
Ltd.'s guilty plea today for violating the Clean Water Act (CWA) over its
conduct leading to the 2010 explosion...
Corp. v. Innovative Brands Holdings, LLC , C.A. No. 3663-VCN (Del. Ch.
Jan. 31, 2013).
The only issue addressed in this decision on
cross-motions for summary judgment was the amount of damages based on a
After entity coverage began to be added to the D&O
insurance policy a couple of decades ago, a recurring problem in the bankruptcy
context was whether or not the D&O policy proceeds were property of the
estate under Bankruptcy
On January 22, 2013, Sens. Patrick Leahy (D-VT) and Chuck
Grassley (R-IA) reintroduced legislation to the Senate Judiciary Committee that
would extend whistleblower protections to employees who provide information to
federal prosecutors in criminal...
You're invited to attend another in the Coffee-Break
Webinar series--designed to enhance your research experience.
Tuesday, February 19 at 1:30 P.M. Eastern Standard Time
"Enhance Your Research with Lexis Advance®--What's New...
The China Institute of International Antitrust and
Investment (CIIAI) was established in March 2012 by the China University of
Political Science and Law, each of which is based in Beijing, with the goals of
promoting due process and transparency in...
By now you will have heard that the U.S. Department of
Justice has filed a securities class action lawsuit against S&P and its
corporate parent, McGraw-Hill, about the rating agency's ratings of
collateralized debt obligations as the subprime...
In the Matter
of Krafft-Murphy Company, Inc. , C.A. No. 6049-VCP (Del. Ch. Feb. 4,
This case addresses a question of first impression in
Delaware: Whether a receiver should be appointed more than 10-years after the
In last week's Advisen webinar on 2012 D&O claims
trends, one of the audience questions related to the growth and relevance of
litigation funding in the U.S. In responding to the question I noted,
among other things, the rise of litigation...
by Michael G. Cecchini
In April 2012, the Second
Circuit reversed the opinion to dismiss plaintiffs' antitrust complaint in Anderson News, L.L.C. v. American Media,
Inc. With this ruling, the Second Circuit again demonstrated its
by Rachel S. Brass, Joel Willard, and Rachel
In 2012 the DOJ conducted
perhaps the most important trial under the international cartel enforcement and
amnesty program. United States v. AU Optronics was also the first trial of a
By Kimberly Gladman, CFA, Ph.D.,
Director of Research and Risk Analytics
This week is an exciting one in the field of responsible
investment: it marks the launch of the Global
Sustainable Investment Association , a network linking the
As numerous observers ( including
this blog ) have noted, securities class action lawsuit filings were down in
2012 compared to the previous year and historical averages. It turns out that
the downturn was not limited just to securities class action...
For all you law students out there who are mystified by
the procedural niceties of derivative litigation (actually, I should include a
pile of politicians and media types in this group as well), AIG has filed a
copy of its demand refusal with the SEC...