Texas Radio Host Can't Stop Insurance Deal In Fraud Case

Law360, Los Angeles (June 3, 2013, 9:48 PM EDT) -- A Texas federal judge approved a settlement Friday between four insurance company units and the receiver of a now-defunct capital management firm over the objections of Houston radio host Daniel Frishberg, whose company allegedly received $6.7 million in a fraudulent securities offering involving the firm.

The settlement covers the proceeds of a $1 million policy by American International Specialty Lines Insurance Co. and its subsidiaries involving claims by 14 investors against DFFS Capital Management Inc., which was run by Frishberg.

Frishberg objected to the settlement, believing...
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