Although the world of electoral politics may seem distant
from the directors' and officers' liability arena, there was one development in
Tuesday's elections that potentially could affect the D&O claims
environment, and it happened...
On July 2, 2010, in what is as far as I am aware the first
suit by the FDIC against former directors and officers of a failed bank as part
of the current wave of bank failures, the FDIC as receiver of IndyMac filed a lawsuit in the Central District...
On August 1, 2011, in a 2-1 decision characterized by a testy but interesting exchange between the majority and the dissent, the Sixth Circuit held that a fidelity policy provided coverage for nearly one million dollars a bank employee stole from client...
The U.S. Supreme Court's June 2010 decision in Morrison v. National Australia Bank looked like the end
of securities claims in U.S. courts on behalf so-called "f-cubed" claimants -
that is, foreign shareholders of foreign-domiciled companies...
2010 was an eventful year in the world of D&O
liability. Congress passed massive financial reform legislation, the Supreme
Court issued landmark decisions in important cases and numerous claims emerged
as litigation landscape continued to evolve...
Settlement is the critical goal in every claim that
cannot be resolved otherwise. It terminates the open dispute, it provides the
parties with finality, and, perhaps, most importantly, it provides the parties
with repose. After a settlement is final...
On September 7, 2012, the Delaware Supreme Court, applying California law, held that Intel's excess insurer's defense obligations were not triggered where Intel had settled with the underlying insurer for less than policy limits and had itself...
Though 268 banks have failed since January 1, 2008, there
has been relatively little litigation related to the failed banks, as least so
far. For example, the FDIC only recently filed its first action against former
directors and officers of a failed...
This is the fourth in a series discussing new trends in SEC enforcement which impact corporate directors and officers and steps that can be taken to avoid future liability.
Employees, the company and insider trading
The enforcement of insider trading...
Though it quickly recovered, Bank
of America's share price declined earlier this week on speculation that the
company is the bank whose internal documents WikiLeaks intends to post on the
Internet at some future date. According to news
The negotiated resolution of securities class action
lawsuits - and absent dismissal, there is rarely any other types of securities
suit resolution - is always complicated and occasionally messy, and often
involves inefficiencies and sometimes produces...
In the most recent issue of the Harvard
Business Review , writers Linda Hill and Kent Lineback posed the question, " Are You a
Good Boss - Or a Great One ?" In this article they explore what they
believe to be some of the imperatives of going...
Monday's FCPA Blog post wrote about what it called a "compliance
donnybrook" inside the company China Northeast Petroleum. The facts of this
melee are straight-forward, in July, the head of the Board of Director's Audit
An insurance broker's settlement of claims for
disgorgement of undisclosed contingent commissions does not represent covered
loss under a combined lines professional liability insurance policy, according
to a December 3, 2010 decision of the Illinois...
Stanford Financial's D&O insurers do not have to
continue to advance the criminal defense attorneys' fees of R. Allen Stanford
and two other former Stanford related individuals, according to an October 13,
2010 ruling by Southern District...