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In November 2007, shareholders of Vodafone Group Plc (“Vodafone”) filed a securities class action complaint in the U.S. District Court for the Southern District of New York under section 10(b) of the Securities Exchange Act of 1934 (the”34 Act”) alleging that Vodafone and several of its directors and officers artificially inflated the price of Vodafone’s stock through allegedly false and misleading statements about its financial health and business prospects. 

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Read More Vodafone Securities Class Action Dismissed For Lack of Subject Matter Jurisdiction

“[A]ll liability policies” issued or delivered in New York on or after January 17, 2009 will be subject to the recent Legislation promulgated under Chapter 388 of the Laws of 2008 (the “Legislation”). The New York Insurance Department (“Department”) has issued Circular Letter No. 26 (2008), dated November 18, 2008, to remind liability insurers writing property/casualty policies of the changes resulting from the new law, and also to clarify certain aspects of the Legislation.

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Read More New York Insurance Department Issues Circular Letter Regarding Late Notice Legislation, Which Takes Effect on January 17, 2009

We have reported previously on the progress of the Lloyd’s Legislative Reform Order (LRO) through the UK Parliament and on the consultation by Lloyd’s in relation to the proposed amendments to the Lloyd’s Byelaws (you can see our most recent post by clicking here). 

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Read More UK: Lloyd’s Legislative Reform Order: Amendments to Lloyd’s Byelaws

Cornerstone Research, in cooperation with Stanford Law School’s Securities Class Action Clearinghouse, recently released its report on federal securities class action filings in 2008. 

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Read More Cornerstone Report: Securities Class Action Filings Soar in 2008 Due to an Increase in Filings Against Financial Services Firms

Although all of the Latin American jurisdictions had notable regulatory and market developments in 2008, Argentina stands out as particularly significant given the size of the market involved and the fundamental nature of the developments seen there in the past year. …
Read More Argentina: Major Insurance and Reinsurance Developments in 2008