In the second panel of the PLUS D&O Symposium, the panelists discussed the recent rise in litigation following mergers and acquisitions. One panel member recalled that around 84% of M&A deals result in litigation, with an average of five lawsuits filed in each case.
Read MoreThe first panel of the 2012 PLUS D&O Symposium discussed some of the latest trends in securities litigation and opined on potential future developments which may impact the D&O industry.
Read MoreThis 60-minute webinar will be presented by EAPD attorneys Mary-Pat Cormier and Greg Pendleton and Lister Lo Lui & Choy partner Kenneth Choy on September 21, 2011.
Read MoreOn August 22, 2011, the FDIC sued 17 former directors and officers of Silverton Bank (“Silverton”), as well as two of Silverton’s D&O insurers.
Read MoreLast week, we noted that News Corp’s D&O insurance was facing a “raft” of claims relating to the phone-hacking scandal.
Read MoreThe Second Circuit has declared that a bond insurer’s D&O program was obligated to pay costs incurred by an independent consultant who was hired during the course of settlement negotiations, despite the carrier’s claimed lack of an effective association in the settlement. MBIA, Inc. v. Federal Insurance Company and ACE American Insurance Company, No. 10-355 (2d Cir. July 1, 2011).
The Insurance Insider is reporting that News Corporation’ directors’ and officers’ program in the United States is facing a “raft” of claims relating to the phone hacking scandal. Please click here for a copy of the article.
Read MoreFederal Investigation
Federal lawmakers recently called on several agencies, including the Securities and Exchange Commission (SEC), the Energy Information Administration (EIA) and the Government Accountability Office (GAO), to investigate whether the natural gas industry has provided an accurate picture to investors of the long-term profitability of their wells and the amount of gas these wells can produce.
In Janus Capital Group, Inc. and Janus Capital Management LLC v. First Derivative Traders, decided June 13, 2011, the Supreme Court held that Janus Capital Management LLC (JCM), a subsidiary of Janus Capital Group, Inc. (JCG) and investment advisor for JCG on a group of its mutual funds, cannot be held primarily liable in a private action by JCG shareholders for alleged false statements in a prospectus under Section 10(b) of the Securities Exchange Act of 1934 and SEC’s Rule 10b-5.
Read MoreSecurities suits against Chinese companies listed on U.S. stock exchanges are on the rise. The majority of these suits concern suspect accounting practices – namely, allegations that the financial data reported by these Chinese companies to the SEC is vastly different from the data they report to authorities in China.
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