NEW YORK - There is no directors and officers liability coverage for five underlying lawsuits arising out of the securitizations of residential mortgage-backed securities, a New York federal judge ruled Sept. 11 (Nomura Holding America Inc. v. Federal Insurance Co., No. 13-5913, S.D. N.Y.; 2014 U.S. Dist. LEXIS 127574).
NEW YORK - A corporate successor to a claimant's former parent company is liable under a veil-piercing theory for a portion of costs incurred in cleaning up coal tar contamination at manufactured gas plant sites in upstate New York, and the claimant's recovery should be reduced to account for payments made on its behalf by its insurers, the Second Circuit U.S. Court of Appeals said Sept. 11 (New York State Electric and Gas Corp. v. FirstEnergy Corp., Nos. 11-4143, 11-4146, 11-4149, 2nd Cir.; 2014 U.S. App. LEXIS 17579).
NEW YORK - No discovery should be undertaken in the majority of cases alleging injury caused by defective ignition switches in vehicles manufactured by General Motors LLC (New GM) until key issues are resolved in the General Motors Corp. (Old GM) bankruptcy case, New GM told the federal judge overseeing the ignition-switch multidistrict litigation in a letter brief filed Sept. 10 (In re: General Motors LLC Ignition Switch Litigation, No. 14-md-02543-JMF, S.D. N.Y.).
NEW YORK - A federal judge in New York on Sept. 9 ruled that an asbestos worker raised a triable issue of fact with regard to the injuries he suffered while remediating the World Trade Center disaster site following the Sept. 11 terrorist attacks (In Re: World Trade Center Lower Manhattan Disaster Site Litigation, No. 09-680, S.D. N.Y.; 2014 U.S. Dist. LEXIS 126854).
NEW YORK - Shareholders and underwriters in a securities class action lawsuit stemming from IndyMac Bancorp's certificate offerings over a three-year period from 2005 to 2007 have agreed to settle all claims for $340 million, according to court documents filed Sept. 11 by the shareholders (In re IndyMac Mortgage-Backed Securities Litigation, No. 09-4583, S.D. N.Y.).
NEW YORK - A New York federal judge on Sept. 10 granted a petition to confirm $75.3 million in interim and supplemental arbitration awards issued in favor of Columbia and Korean oil companies in a dispute over an agreement for the purchase of oil and gas businesses, refusing an exploration and production company's motion to vacate the awards (Ecopetrol S.A., et al. v. Offshore Exploration and Production LLC, No. 14-529, S.D. N.Y.).
NEW YORK - A federal district court did not abuse its discretion in determining that new evidence in a securities class action lawsuit would not have changed the outcome of an earlier ruling because the new evidence was nothing more than "mere commercial puffery," a Second Circuit U.S. Court of Appeals panel ruled Sept. 8 (Claude A. Reese, et al. v. Robert J. Bahash, et al., No. 13-4039, 2nd Cir.).
NEW YORK - A plaintiff that provides a searchable database of "clips and snippets" from television and radio broadcasts partly prevailed Sept. 9 on allegations of copyright infringement by Fox News Network LLC (TVEyes Inc. v. Fox News Network LLC, No. 13-5315, S.D. N.Y.).
NEW YORK - A federal district court did not err in dismissing a securities class action lawsuit against Xerox Corp. and several of its executive officers because shareholders failed to plead any genuine dispute of material fact with regard to the sufficiency of Xerox's disclosures about the success and failure of a component of the company's worldwide restructuring program (WWR) in making their federal securities law claims, a Second Circuit U.S. Court of Appeals panel ruled Sept. 8 (Thomas Dalberth, et al. v. Xerox Corp., et al., No. 13-1658, 2nd Cir.; 2014 U.S. App. LEXIS 17357).
NEW YORK - Lung cancer claims differ sufficiently from mesothelioma claims to divide a proposed asbestos trial group into two groups, a New York justice held in an opinion posted Sept. 9 (In re: New York City Asbestos Litigation, No. 116852-2006, N.Y. Sup., New York Co.).
WASHINGTON, D.C. - The U.S. Department of Justice (DOJ) announced Sept. 8 that a New York property owner and property manager were sentenced by a federal judge in the Northern District of New York to 21 months in federal prison for conspiring to violate the Clean Air Act (CAA) and the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) when illegally removing pipe wrap containing asbestos during renovations of three of the properties (United States of America v. John Mills, et al., No. 12-cr-00125, N.D. N.Y.).
NEW YORK - A Bank of America Corp. (BoA) employee who was twice transferred and then laid off as part of a reduction in force (RIF) failed to prove claims of age discrimination or breach of contract, the Second Circuit U.S. Court of Appeals ruled Sept. 5 (John Delaney v. Bank of America Corporation, et al., No. 13-184, 2nd Cir.; 2014 U.S. App. LEXIS 17205).
NEW YORK - In conjunction with a press release noting "a settlement that benefits" all parties involved, a coalition of photographer and illustrator groups filed a stipulation in New York federal court on Sept. 5 dismissing their four-year old copyright infringement lawsuit against Google Inc. related to the Google Library Project (GLP) (The American Society of Media Photographers Inc., et al. v. Google Inc., No. 10-cv-02977, S.D. N.Y.).
NEW YORK - The federal judge in New York presiding over litigation concerning alleged groundwater contamination caused by the gasoline additive methyl tertiary butyl ether (MTBE) on Sept. 3 refused to declassify documents from two research institutions regarding a study investigating the carcinogenic potential of the chemical, finding that the New Jersey Department of Environmental Protection (NJDEP) failed to comply with the terms of two protective orders (In re: Methyl Tertiary Butyl Ether (MTBE) Products Liability Litigation, MDL 1358, Case No. 00-1898, New Jersey Department of Environmental Protection v. Atlantic Richfield Inc., No. 08 Civ. 312, S.D. N.Y.; 2014 U.S. Dist. LEXIS 123061).
BUFFALO, N.Y. - A New York federal judge on Sept. 3 granted a health insurer's motion for summary judgment in a wrongful denial of benefits suit, saying mental health coverage provided at the residential treatment facility at issue was not covered under the plan because the facility did not have an operating certificate from the commission of mental health (Bruce J. Halpern v. Blue Cross Blue Shield of Western New York, No. 12-407S, W.D. N.Y.; 2014 U.S. Dist. LEXIS 124388).
NEW YORK - A New York federal judge on Sept. 5 granted a motion to compel arbitration filed by the United States Polo Association and others in India, finding that they did not waive to their right to arbitrate a clothing-related trademark dispute (Ralph Lauren Corporation, et al. v. United States Polo Association Inc., et al., No. 13-7147, S.D. N.Y.; 2014 U.S. Dist. LEXIS 123968).