Does your business need a legal checkup? As previously discussed, the nearly universal rule is that it is almost always less expensive to resolve a legal issue early on – such as through a proper contract prepared with professional assistance –...
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...
Scott N. Godes is counsel in Dickstein Shapiro’s Insurance Coverage Practice.
In these times of financial uncertainty, outside directors on corporate boards of directors may request that the companies’ boards companies purchase Individual...
There was a time when it was relatively rare for the Supreme
Court to take up securities cases. Until recently, the Court basically went
several years between cases filed under the securities laws. Those days are
clearly over, as the Court has granted...
Longtime readers know I have frequently argued that claims related to the enforcement of the Foreign Corrupt Practices Act are a growing source of liability exposure for companies and their senior officials, a stand that has made me the subject of occasional...
There is an ongoing debate in the compliance arena as to
whom a Chief Compliance Officer (CCO) should report. Should the CCO report to
the Board of Directors or appropriate Board committee such as an Audit
Committee or Compliance Committee? Or can...
Recently, the financial industry and the country itself has faced two sweeping market-related “scandals” or “crises” (for lack of a better term): the issues in the mortgage industry with subprime lending, and the executive stock...
In his Expert Commentary on the Stoneridge decision, Stoneridge Inv. Partners, LLC v. Scientific-Atlanta, Inc., 128 S. Ct. 761 (U.S. 2008), James Fanto states that the Court’s opinion supports the view that corporate fraud is the product of a few...
Written by Teresa Zink for HB Litigation Conferences LLC
Professional liability and, more specifically, directors and officers liability arising out of what has come to be know as the new banking crisis is an area where many see more questions than...
a March 12, 2010 order in a Madoff-related derivative suit, the New York
(Nassau County) Supreme Court, applying New York law, substantially denied
defendants' motion to dismiss, holding among other things that demand was
excused. As far as...
In a unanimous March 22, 2011 opinion by Justice Sonia Sotomayor , the
U.S. Supreme Court rejected the argument of Matrixx Initiatives that adverse
product reports must be "statistically significant" in order for a
manufacturer to have an...
Originally posted on the LexisNexis Insurance Law Center
In HLTH Corp. v. Agricultural Excess & Surplus Insurance Co., No. 07C-09-102-RRC, 2008 Del. Super. LEXIS 280 (Del. Super. Ct. July 31, 2008), the insurance companies that sold HTLH Corp...
Plaintiff attorney James M.
Wilson, Jr. discusses the Supreme Court unanimous rejection of a
pharmaceutical company's attempt to inject a bright line test to determine what
"material" information is required to be disclosed to shareholders...