NEW YORK - A federal judge in New York on June 5 denied motions for reconsideration filed by defendants in a securities class action lawsuit, ruling that the defendants' arguments fail as a matter of law (In re BioScrip Inc. Securities Litigation, No. 13-6922, S.D. N.Y.; 2015 U.S. Dist. LEXIS 73484).
NEW YORK - A class complaint properly removed from state to federal court still belongs in federal court even if class claims are dropped after the removal, the Second Circuit U.S. Court of Appeals ruled June 4 (In Touch Concepts, d/b/a ZCOM v. Cellco Partnership, d/b/a Verizon Wireless, et al., No. 14-1622, 2nd Cir.; 2015 U.S. App. LEXIS 9293).
BROOKLYN, N.Y. - A federal judge in New York on June 5 adopted a federal magistrate's report and recommendation that the federal judge grant preliminary approval of a settlement in a securities class action lawsuit, ruling that adopting the report and recommendation was proper because neither party objected to it (Waterford Township Police & Fire Retirement System v. Smithtown Bancorp, Inc., et al., Nos. 10-0864, E.D. N.Y.; 2015 U.S. Dist. LEXIS 73025).
NEW YORK - A defendant's "contorted interpretation" of the testimony and failure to account for existing asbestos-containing product inventory after it left the floor tile business keep it in an asbestos action, a New York justice held in an opinion posted June 5 (Bruce J. Bardone and Katherine Bardone v. A.O. Smith Water Products Co., et al., No. 190134/2014, N.Y. Sup., New York Co.; 2015 N.Y. Misc. LEXIS 1937).
SYRACUSE, N.Y. - A federal judge in New York on June 4 denied a reinsurer's motion for summary judgment, holding that whether the reinsurance is capped at $1 million cannot be determined now because the reinsurance certificate is ambiguous (Utica Mutual Insurance Company v. R&Q Reinsurance Company, No. 13-cv-01332, N.D. N.Y.).
NEW YORK - A New York appeals panel on June 4 rejected a directors and officers liability insurer's argument that a merger litigation and an adversary proceeding constitute one continuous claim, finding that coverage for the adversary proceeding is not subject to a 2006-2007 policy's insured versus insured (IVI) exclusion (American Casualty Company of Reading, P.A., et al., v. Morris Gelb, et al., No. 15335 653280/11, N.Y. Sup., App. Div., 1st Dept.; 2015 N.Y. App. Div. LEXIS 4643).
NEW YORK - An increase in taxi fares to fund health care navigators and disability insurance duplicative of Patient Protection and Affordable Care Act (ACA) benefits is arbitrary and exceeds the governing body's mandate, a New York appeals court ruled June 4, affirming a judge's ruling annulling the rules (In re Tanvir Ahmed, et al. v. The City of New York, et al., No. 101692/13, In re Adelso Raul Delorbe, et al. v. The City of New York, et al., No. 101762/13, N.Y. Sup., App. Div., 1st Dept.; 2015 N.Y. App. Div. LEXIS 4655).
NEW YORK - The denial of a claimant's benefits under a disability pension plan was not arbitrary or capricious because it was not clear that the disability was permanent or that she was disabled while employed, the Second Circuit U.S. Court of Appeals said June 1 (Francy Ocampo v. Building Service 32B-J Pension Fund, et al., No. 14-0877, 2nd Cir.; 2015 U.S. App. LEXIS 9020).
NEW YORK - A New York justice on June 2 issued an order to show cause asking for responses regarding the proposed termination of the ancillary receivership of an insolvent Ohio insurer (In the Matter of the Ancillary Receivership of Credit General Insurance Company, No. 400160/01, N.Y. Sup., New York Co.).
NEW YORK - Google Inc. moved in New York federal court on June 1, seeking to compel three movie studios to comply with discovery subpoenas served on them in a lawsuit in Mississippi federal court in which Google asserts constitutional violations in Mississippi Attorney General Jim Hood's investigation of it under the Mississippi Consumer Protection Act (MCPA) (Google Inc. v. Twenty-First Century Fox Inc., et al., No. 1:15-cv-00150, S.D. N.Y.).
NEW YORK - A New York woman on June 3 filed a class complaint against iHeartMedia Inc. in New York federal court for allegedly sending unauthorized text messages to cellular phones of people around the country (Beth Shvarts, et al. v. iHeartMedia, Inc., No. 15-3231, E.D. N.Y.).
SYRACUSE, N.Y. - A federal magistrate judge in New York on June 2 granted in part and denied in part a reinsurer's motion to compel discovery in an asbestos-related reinsurance billing dispute (Utica Mutual Insurance Company v. R&Q Reinsurance Company, No. 14-cv-00700, N.D. N.Y.).
NEW YORK - A New York justice on May 28 appointed the state's superintendent of financial services as the ancillary receiver of an insolvent Oklahoma insurer licensed to do business in New York (In the Matter of Red Rock Insurance Company, No. 451197/15, N.Y. Sup., New York Co.).
NEW YORK - A federal judge in New York on May 27 granted final approval of a $500 million settlement in a securities class action lawsuit regarding Bear Stearns' sale of more than $17 billion in mortgage-backed securities, finding the settlement agreement to be fair, reasonable and adequate (In re Bear Stearns Mortgage Pass-Through Certificates Litigation, No. 08-8093, S.D. N.Y.).