D&O Liability Archives - Page 32 of 36 - Insurance & Reinsurance

Ninth Circuit Overturns Rare Securities Class Action Verdict

Dec 4, 2007 | D&O Liability | United States

The Ninth Circuit Court of Appeals recently reversed the 2005 defense verdict in Miller v. Thane Int’l, Inc., one of the only instances to date in which a securities class action had actually been tried to a verdict.

Brocade Stock Options Backdating Criminal Trial: Episode II

Nov 27, 2007 | D&O Liability | United States

In the wake of the successful prosecution of ex-Brocade CEO Greg Reyes, government prosecutors are trying their luck a second time — this time with Brocade’s former vice president of human resources, Stephanie Jensen.

SEC Files Amicus Brief in Bear Stearns Insurance Coverage Litigation

Nov 26, 2007 | Coverage & Claims, D&O Liability, Regulatory | United States

The Securities and Exchange Commission recently filed an amicus brief in the Vigilant Ins. Co. et al. v. The Bear Stearns Cos., Inc. insurance coverage litigation. On June 19, 2007, an intermediate New York State appellate court held that a question of fact existed as to whether a component of an SEC settlement that was specifically labeled as disgorgement actually constituted the kind of disgorgement that many courts have deemed uninsurable as a matter of public policy.

U.S. House of Representatives Passes Subprime Legislation Targeting Wall Street Banks

Nov 20, 2007 | Coverage & Claims, D&O Liability, Federal Legislative Developments, Regulatory, Subprime/Credit Crisis Developments | United States

As the number of home foreclosures continues to rise, the United States House of Representatives recently passed legislation directed at a range of players involved in the subprime crisis.

Options Backdating Class Action Against Apple D&Os Dismissed

Nov 19, 2007 | D&O Liability | United States

On November 14, 2007, federal court judge Jeremy Fogel, sitting in the district court of the Northern District of California, dismissed a purported class action brought by Apple shareholders against Steve Jobs and other Apple D&Os.

British Insurer Seeks to Confirm Arbitration Award Against Former Tyco CEO

Nov 14, 2007 | Arbitration, D&O Liability, New York Developments | United Kingdom, United States

Recently, Corporate Officers & Directors of Assurance Ltd. (“CODA”), a U.K. insurer that issued a directors and officers policy to Tyco International Ltd., petitioned a New York state court to confirm an arbitration award directing Tyco’s former CEO, L. Dennis Kozlowski, to pay CODA about $2 million.

Shareholders File Class Action and Derivative Suits Against Merrill Lynch Over $8.4 Billion Subprime Write-Down

Nov 12, 2007 | D&O Liability, Industry Developments, Subprime/Credit Crisis Developments | United States

A shareholder class action suit was filed against Merrill Lynch & Co. on October 30, 2007 following an announcement by Merrill Lynch that it would have to write-down $8.4 billion in connection with mortgage-related investments. The charge for that write-down is being taken in the third-quarter of 2007.

D&O Insurer not Liable for Bad Faith Damages

Nov 2, 2007 | D&O Liability | United States

In a recent decision from a federal court in Georgia, Executive Risk Indem., Inc. v. AFC Enterprises, Inc., an insurer sought a declaratory judgment that it properly rescinded a D & O policy based on the insured’s material misrepresentations in the application of insurance.

Canadian D&O Claims Expected To Rise

Oct 24, 2007 | D&O Liability | United States

According to a recent report by Business Insurance, Canadian insurers should brace for a coming surge in directors’ and officers’ liability claims. The rise in claims is an anticipated consequence of major changes in Canadian securities regulation dating back to 2005.

PCAOB Study: Post-SOX Drop in Market Reaction to Restatements

Oct 24, 2007 | D&O Liability | United States

In a working paper recently released, the Public Company Accounting Oversight Board (PCAOB), a non-profit entity created by the Sarbanes-Oxley Act (SOX) to oversee the auditors of public companies, found that the loss in market value following announcements of financial restatements has diminished since the July 30, 2002 implementation of SOX.

Topic: D&O Liability

Ninth Circuit Overturns Rare Securities Class Action Verdict

Brocade Stock Options Backdating Criminal Trial: Episode II

SEC Files Amicus Brief in Bear Stearns Insurance Coverage Litigation

U.S. House of Representatives Passes Subprime Legislation Targeting Wall Street Banks

Options Backdating Class Action Against Apple D&Os Dismissed

British Insurer Seeks to Confirm Arbitration Award Against Former Tyco CEO

Shareholders File Class Action and Derivative Suits Against Merrill Lynch Over $8.4 Billion Subprime Write-Down

D&O Insurer not Liable for Bad Faith Damages

Canadian D&O Claims Expected To Rise

PCAOB Study: Post-SOX Drop in Market Reaction to Restatements

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