Oral arguments on appeal were recently heard on one of the first verdicts handed down in a Katrina-related insurance trial.  Arguments on the appeal of Leonard v. Nationwide Mutual Insurance Company were heard on August 6 before the Fifth Circuit Court of Appeals. 

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Read More Oral Argument Heard on One of the First Katrina-Related Insurance Trial Verdicts

As previously reported here, a Northern District of Alabama judge recently asked federal prosecutors to charge Mississippi plaintiff’s attorney Richard “Dickie” Scruggs with criminal contempt.  It is alleged that Scruggs violated a preliminary injunction issued in December 2006, which ordered him to turn over all documents secretly copied by two whistleblowers, Corgi Rigsby Moran and Kerri Rigsby. 

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Read More Scruggs In The News – Special Prosecutors Appointed to Prosecute Scruggs on Criminal Contempt Charges

The United States Court of Appeals for the Seventh Circuit recently affirmed dismissal of a securities class action complaint based on the PSLRA pleadings standard clarified by the United States Supreme Court in Tellabs. 

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Read More Tellabs Applied: Discounting Allegations Made By “Confidential Witnesses”

In a bad faith case involving wrongful denial of coverage of a wrongful death suit, a Pennsylvania Court awarded the policyholder’s assignee $8,490,666 in damages, despite the fact that the policyholder had pled guilty to voluntary manslaughter. 

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Read More Court Awards $8,490,666 In Damages, Including $6,000,000 In Punitive Damages, In Bad Faith Action Involving Policy With A $100,000 Limit

The Third Circuit Court of Appeals recently ruled that the New Jersey federal district court improperly dismissed derivative claims against certain of Merck & Co.’s officers and directors. 

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Read More Third Circuit Revives Vioxx Derivative Suit Against Merck

A recent ruling from the English Commercial Court illuminates one risk with the use of the Bermuda form arbitration clause:  if the losing party is dissatisfied with the arbitration result, it may not be permitted to challenge the result under New York law in a New York court, but may instead be limited to challenging the arbitration award under English law in English court. 

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Read More No Right To New York Review Of Arbitration Decision Under Bermuda Form Arbitration Clause

Effective October 26, 2007, the U.S. Foreign Investment and National Security Act of 2007 (“FINSA”) will amend the Exon-Florio review process to place more scrutiny on foreign acquisition of U.S. companies.  FINSA was prompted by national security concerns that arose after the proposed acquisitions of U.S. ports by a Dubai-owned company and of UNOCAL by China. 

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Read More Exon-Florio Reviews Amended by the U.S. Foreign Investment and National Security Act of 2007

It was widely reported this week that insurance broker Marsh & McLennan Cos. is attempting to amend its landmark 2004 settlement with insurance regulators and the New York State Attorney General’s Office that required it to give up so-called contingent commissions. 

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Read More Marsh Seeks to Amend 2004 Settlement to Allow New Fees

In a case of first impression, the Massachusetts Supreme Judicial Court (“SJC”) ruled on August 6, 2007 that a “follow-form” excess liability insurer is not bound by the decision of a primary insurer to settle a claim. 

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Read More Massachusetts: Excess Insurers Not Bound To Follow The Settlement Decisions Made By A Primary Carrier