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The Chairman of the United States Securities and Exchange Commission told reporters recently that the SEC is close to making announcements regarding ongoing stock options investigations. The Chairman said that the SEC believes it has “rounded up” most of the companies that improperly backdated options. 

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Read More SEC On The Verge Of Making Announcements Regarding Stock Options Investigations

On July 17, 2007, New York Attorney General (“NYAG”) Andrew M. Cuomo filed suit against the ExxonMobil Corporation and ExxonMobil Refining and Supply Company “to force the cleanup of a 17-million-gallon oil spill in Greenpoint, Brooklyn, and to restore Newtown Creek, the contaminated waterway separating Queens from Brooklyn.”  

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Read More NYAG Sues ExxonMobil over Alleged 17-million-gallon Oil Spill in New York City

Rep. Gene Taylor (D-MS) has introduced H.R. 920, entitled the “Multiple Peril Insurance Act of 2007,” to the United States House of Representatives in response to the denial of claims from Hurricane Katrina due to wind loss. 

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Read More Congress Considering Reforms to National Flood Insurance Program

The Travelers Companies, Inc. has announced a settlement with ACandS Inc. to resolve all current and future asbestos-related coverage claims.  ACandS, an insulation contractor, has been undergoing Chapter 11 reorganization since 2002, and its bankruptcy counsel has described the Travelers insurance coverage as “the most important asset of ACandS’s bankruptcy estate.” 

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Read More Travelers Enters Settlement with ACandS, Ending “Potentially Unlimited” Exposure; Plan Includes Reinsurance Allocation