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On Thursday, May 8th at 1:00 PM (EST), attorneys from Edwards Angell Palmer & Dodge’s Securities and Government Enforcement team will present a webcast entitled:  What The Subprime/Credit Crisis Means For Your Company as part of the ongoing Association of Corporate Counsel webcast series. 

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Read More Webcast: What The Subprime/Credit Crisis Means For Your Company

In a March 3, 2008 decision, the U.S. District Court for the Southern District of New York granted a motion to dismiss for improper venue.  See Aguas Lenders Recovery Group, LLC v. Suez S.A., Sociedad General De Aguas De Barcelona, S.A., and Agua y Saneamientos Argentinos S.A., Case No. 06 Civ. 7873 (RLC).    The Court noted that the plaintiff could not hold defendant liable for forum waivers, where defendant was not a party to the relevant agreements and did not even exist when the agreements were created. …
Read More Non-Signatory To Agreement Containing Forum Waiver Clause Cannot Be Held Liable For Forum Waiver

Janice Kupukaa filed a medical practice lawsuit against Kaiser Permanente (“Kaiser”), a medical facility, and other entities and individuals in Hawaii state court.  Kaiser was insured under primary insurances policies issued by Texas Farmers Insurance Company (“Texas Farmers”), which covered the period of 4/9/99-4/9/00, 4/9/00-4/9/01 and 4/9/01-4/9/02, respectively. 

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Read More Reinsurer Has No Obligation to Contribute to Settlement Where Reinsured Excess Policy Was Not Triggered

The United States District Court for the Eastern District of Pennsylvania recently held that plaintiff, who first initiated arbitration against the defendant’s subsidiary but then commenced a lawsuit against its parent, must establish the subsidiary’s liability in arbitration before filing any claims that purport to pierce the subsidiary’s corporate veil. 

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Read More Court Reinforces Federal Policy Favoring Arbitration

Recently, the United States District Court for the Central District of California concluded in a matter of first impression that a reinsured cannot recover in tort for a reinsurer’s alleged breach of the implied covenant of good faith and fair dealing. …
Read More California Federal Court Concludes That Reinsurer Is Not Subject To Tort Liability For Alleged Breach Of A Reinsurance Contract Under California Law

The Tennessee Supreme Court is now considering whether to dismiss a case against an employer brought by its employee’s daughter concerning her alleged secondhand exposure to asbestos.  Plaintiff Amanda Satterfield succumbed to mesothelioma at the age of 25. …
Read More Secondhand Asbestos Exposure Lawsuit Makes Its Way to Tennessee Supreme Court

For our readers who are interested in the specific allegations contained in the recent shareholder class action complaint against Bear Stearns arising from the JPMorgan buyout, a copy is attached here.The suit, entitled Eastside Holdings, Inc. v. Bear Stearns Cos. Inc. et al., No. 08-CV-2793 (S.D.N.Y. Mar. 17,

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Read More Interested In Reading The Bear Stearns Shareholder Class Action Complaint? See Attached…

Earlier this month, shareholders filed a securities class action against Blackstone Group L.P. (“Blackstone”), its CEO and its CFO over their alleged failure to warn investors that some of the investments managed by Blackstone were performing poorly and that Blackstone was at risk of having to pay back some of its performance fees. 

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Read More Shareholders Sue Blackstone Over FGIC and Other Poorly Performing Investments

The New York State Insurance Department has issued a legal opinion in response to an anonymous inquiry regarding whether automobile collision repair facilities are permitted to pay part or all of an insured’s deductible.  The opinion states that such a payment does not constitute a rebate, which the N.Y. Ins. Law § 2324 prohibits, and therefore is permissible. …
Read More New York Auto Repair Shops Permitted To Fix More Than Just Autos

The Connecticut Supreme Court recently held that the State has standing to pursue a parens patriae antitrust claim for damages to its general economy against defendant insurance brokerage and consulting firms. 

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Read More Connecticut Supreme Court: State Has Standing to Pursue Parens Patriae Antitrust Claim For Damages to its General Economy