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4th Circuit: Insurer Properly Denied Coverage Of Convicted Executive

RICHMOND, Va. - Criminally convicted former Taylor Bean and Whitaker Mortgage Corp. (Taylor Bean) chairman Lee Bentley Farkas must repay the defenses fees the company's directors and officers (D&O) insurer advanced on his behalf, the Fourth Circuit ...read more

6th Circuit Reinstates Postal Employee's Federal Tort Claims Act Claim

CINCINNATI - A Sixth Circuit U.S. Court of Appeals panel on April 19 reinstated a former U.S. Postal Service (USPS) employee's Federal Tort Claims Act $(FCTA$) claim in connection with criminal charges filed against him that were later dropped, finding ...read more

Jury Finds Former Executive Guilty Of Computer Fraud, Trade Secrets Violations

SAN FRANCISCO - Five years after the original indictment was filed against David Nosal, a California federal jury on April 24 found the former Korn/Ferry International executive guilty of six criminal counts of computer fraud, misappropriation of trade ...read more

Panel: California Insurance Code Section 533.5 Does Not Preclude Defense Duty

LOS ANGELES - A California appeals panel found May 1 that an insurer cannot avoid its contractual duty to defend a medical director insured against federal criminal charges by relying on California Insurance Code Section 533.5, subdivision (b), reversing ...read more

Illinois Panel: No Coverage For Claims That Meat Producer Illegally Used Hormones

CHICAGO - The First District Illinois Appellate Court, Fifth Division, on May 10 affirmed a lower court's ruling that an insurer has no duty to defend its meat-producing insured against federal criminal allegations that it illegally used hormones ...read more

Ranbaxy Pleads Guilty, Pays $500M To Settle Federal Adulterated Drug Investigation

BALTIMORE - The American subsidiary of Indian drug maker Ranbaxy Laboratories Ltd. on May 13 agreed to pay $500 million in criminal fines and civil penalties and to plead guilty to seven counts of making adulterated prescription drugs, filing false statements ...read more

Trio Charged With Tobacco Tax Dodging Fail To Obtain Dismissal

LOUISVILLE, Ky. - A Kentucky federal judge refused to dismiss criminal charges against three people who allegedly used falsified invoices to avoid paying more than $2 million in Kentucky excise taxes on $12.5 million worth of cigarettes sold throughout ...read more

Bausch & Lomb Unit Pleads Guilty, Pays $33.5M To Settle Criminal, Civil Cases

BUFFALO, N.Y. - A near-defunct subsidiary of Bausch & Lomb Inc. on May 24 pleaded guilty to two federal felony counts of off-label promotion of a drug and paying kickbacks and agreed to settle a related whistle-blower lawsuit, to pay $33.5 million ...read more