LexisNexis® Legal Newsroom
Judge: Money Laundering Exclusion Bars Coverage For Stanford Directors And Officers

HOUSTON -- (Mealey's) Insurers have proven that their policies' money laundering exclusion precludes coverage for directors and officers insureds' defense costs in underlying criminal and SEC litigation involving the alleged Stanford Ponzi scheme, a Texas federal judge held Oct. 13, granting...

Financier Stanford's Lawsuit Seeks $7.2 Billion

HOUSTON - (AP) Jailed Texas financier R. Allen Stanford has filed a lawsuit accusing prosecutors and federal agents of depriving him of his constitutional rights by using abusive law-enforcement tactics. He is asking for $7.2 billion in damages. The lawsuit filed Wednesday comes after Stanford was declared...

The Week In Securities Litigation: Stanford CIO Pleads Guilty; 3 Sentenced In Insider Trading Scheme In U.K.

SEC Chairman Mary Schapiro appeared before Congress twice this week to testify. Before a Senate Committee she testified about mutual fund reform while before a House Committee her remarks focused on the loss at JPMorgan. SEC enforcement brought actions centered on a stock lending scheme and investment...