Corporate transactional attorneys drafting dispute resolution provisions in New York commercial agreements should consider using a provision that would require any dispute arising under the agreement to be determined in accordance with the NY Supreme Court’s Commercial Division and its rules applicable to accelerated adjudication actions, says Ed O’Toole of Venable LLP.
A Florida federal judge on Monday refused to certify a former Humana unit employee’s overtime suit as a collective action under the Fair Labor Standards Act, saying fewer than 10 people out of a potential class of thousands have wanted to join the suit.
Credit Suisse Securities USA LLC and a group of insurers that sued the broker-dealer over $69 million in residential mortgage-backed securities rendered nearly worthless in the financial crisis settled their dispute on undisclosed terms just hours before trial on Monday.
A New York federal court’s recent decision that Medidata Solutions is entitled to coverage for a loss to an email-based theft scheme and a Michigan federal judge’s ruling that a tool manufacturer isn’t covered for a similar scam added to a body of wildly varied case law on whether computer fraud insurance covers sophisticated criminal plots.
A New Jersey federal judge Friday denied Ford Motor Co.’s attempt to end a suit blaming a wiring defect in a Ford minivan for a 2012 house fire, saying the homeowners and their insurer had produced a qualified expert witness.
Imperium Insurance Co. told a Fifth Circuit panel Friday it was justified in denying law firm Shelton & Associates PA coverage for a pair of malpractice suits, saying the firm had every reason to expect at least one of those suits when it took out the policy.
An insurance company on Monday asked the Eleventh Circuit to vacate a ruling putting a restaurant it insures on the hook for a $15 million verdict in a personal injury suit against a shopping center, saying the lower court ignored a Florida precedent establishing when a tenant’s insurance policy might extend to a landlord.
After months of talk, speculation and behind-the-scenes negotiations, the Republican tax reform proposal is expected to be released to the public this week. The stakes surrounding it are high; failure to pass the bill could put at risk Republican control of Congress in the 2018 elections, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.
The boss of Britain’s Financial Conduct Authority faces a public grilling from lawmakers Tuesday over a controversial rule change seen as a bid to woo Saudi Aramco to float in London, and a secretive probe into conduct issues concerning the Royal Bank of Scotland Group PLC.
The Financial Conduct Authority on Monday launched final proposals to change how the Financial Services Compensation Scheme is funded and to increase the protection it provides to investment and pensions consumers.
The European Insurance and Occupational Pensions Authority on Monday submitted its first advice to the European Commission on its review of specific items in the Solvency II rules, suggesting simplifying calculations for insurers' capital needs.
The U.K.’s financial regulator revealed an action plan for boosting the diversity of its senior leadership team on Monday, amid heightened focus from Parliament and a fall in female and ethnic representation in its top ranks over the past year.
Organizations around the globe highlighted pro bono efforts last week as part of an annual tradition observed across professions. Catch up if you missed this Expert Analysis series that published throughout Pro Bono Week, exploring the challenges and rewards of pro bono volunteering in the legal profession.
Preparing witnesses to be deposed is a critical element of discovery. It is important to remember that each witness is an individual with unique personal qualities, strengths and weaknesses. Getting to know the witness helps establish rapport and trust, says Alan Hoffman of Husch Blackwell LLP.
Most expect that the current White House and federal agencies will take a more business-friendly approach than in recent years. But when it comes to responding to union organizing campaigns and negotiating collective bargaining agreements, employers still face wide-ranging challenges, says Steven Gutierrez of Holland & Hart LLP.
The European Union’s securities regulator published clarifications on Monday to help banks apply new rules for reporting debt and equity to investors more consistently across the bloc.
The Trump administration on Friday proposed new leeway for states to determine coverage of “essential health benefits” in Affordable Care Act plans, addressing a key issue targeted by the failed ACA repeal effort.
AIG Speciality Insurance Co. blasted The Walt Disney Co.’s efforts to force into arbitration their dispute regarding whether the insurer owes $25 million toward a settlement over news reports calling a Beef Products Inc. item “pink slime,” telling a California federal court Thursday that it lacks jurisdiction and arbitration isn’t appropriate.
The Chapter 11 trustee for a group of bankrupt coal producers filed suit Thursday against Ohio-based Peoples Bank and Peoples Insurance Agency, saying the financial services companies withheld knowledge that the coal companies were very valuable in order to railroad them into a financially destructive agreement.
Marshall Dennehey Warner Coleman & Goggin has apparently agreed to end claims that it violated the Americans with Disabilities Act by failing to accommodate an ex-insurance associate’s claustrophobia and fear of heights, according to a court filing Thursday.
The Belgian government on Friday said it will establish an English-speaking business court to handle an increase in cross-border cases from international companies in the wake of Brexit.
A Travelers unit didn't act in bad faith in its handling of a personal injury lawsuit against Sea Tow Services International Inc., the Second Circuit affirmed on Friday, finding that the insurer's presettlement strategy in the underlying litigation doesn't support such a claim.
BancorpSouth Inc. on Thursday asked the Seventh Circuit for a redo of a decision that found a Chubb Ltd. unit didn’t need to cover the bank’s $25.5 million settlement of a class action over allegedly bogus overdraft fees, saying an earlier panel construed an exclusion in Chubb’s insurance policy too broadly.
Exelon Corp. and Sidley Austin LLP have been working together on both short- and long-term pro bono matters for the past 10 years. We offer a glimpse of how we got started and what we have done in the hope that other corporate legal departments and law firms might find ways to work together to meet the legal needs of the poor, say Kelly Huggins, pro bono counsel at Sidley Austin, and Margaret Balsley-Cross, assistant general counsel at Exelon.
The U.S. Department of the Treasury on Thursday said asset managers and insurers should not be subjected to stress testing and other rules banks follow, and instead should have their trading and other activities regulated.