The lead plaintiff in a securities class action against a slew of defendants — among them Scottish Re Group Ltd., Ernst & Young LLP and Lehman Brothers Holdings Inc. — has moved for final approval of a $37.5 million settlement, including nearly $6 million in attorneys' fees.
Real estate transaction company LandAmerica Financial Group Inc. and a subsidiary have filed for Chapter 11 to ease the proposed $298 million sale of their units to subsidiaries of rival Fidelity National Financial Inc.
One of the plaintiffs involved in multidistrict litigation against numerous insurers and brokers has moved to drop several claims from its amended complaint, seeking to let Discover Reinsurance and others off the hook at least in part.
Deloitte & Touche LLP has agreed to pay $40 million to Pennsylvania insurance authorities to settle litigation arising from audits the company performed for defunct insurance provider Reliance Insurance Co.
A proposed consortium of commercial insurers that would pool their resources to offer coverage in excess of $250 million has been given the green light by the U.S. Department of Justice.
Pfizer Inc. is fighting back against insurance-related objections to the reorganization plan proposed by bankrupt subsidiary Quigley Co., urging the court to overlook the protests regarding how the now-defunct unit intends to take care of its asbestos liabilities.
Nearly 3,250 plaintiffs have voluntarily dropped out of multidistrict litigation accusing Allstate Insurance Co. of violating federal wage-and-hour laws, more than a year after a judge ruled that the company had properly classified three former employees in the suit as exempt from the overtime rules.
Third-party financing of litigation and an increasing acceptance of class action lawsuits in European courts have opened companies there up to litigation risks similar to those in the United States, a major British insurance firm reports.
An appeals court has affirmed the denial of preliminary injunctions in a lawsuit brought by numerous insurance companies against the administrators of the $4.85 billion Vioxx settlement.
An appellate court has remanded a shareholder class action against insurer Hartford Financial Services Group Inc. over kickbacks it allegedly paid to insurance brokers, vacating an earlier decision by a district court to dismiss.
An appeals court has ruled against H&R Block Inc. in a dispute over whether two of the company's insurers were obligated to cover class actions the tax preparation giant faced over its tax refund loan program.
The Federal Deposit Insurance Corp. has put forward a proposal for using federal bailout money to modify mortgages so that borrowers can avoid defaulting on them.
Investors will get another chance to bring a class action suit against bond insurer MBIA Inc. over alleged accounting misdeeds that allowed the company to avoid reporting a $170 million loss, a federal appeals court has ruled.
Citing a want for mediation, a judge has stayed the claims against General Reinsurance Corp. and its former CEO and former senior vice president in a securities class action brought with regards to alleged bid-rigging scheme and the dissemination of false and misleading statements at American International Group Inc.
Washington Mutual Inc. is asking a federal bankruptcy judge to allow the bankrupt holding company to immediately transfer $7.4 million to subsidiary WM Mortgage Reinsurance Co. Inc. to shore up a capital deficiency in one of its trusts and preserve close to $400 million in value for creditors.
Bear Stearns Cos. Inc., now part of JPMorgan Chase & Co., has agreed to pay $27 million to settle a lawsuit on behalf of now-defunct National Heritage Life Insurance Co. over fraud related to collateralized mortgage obligations.
In a boost to Marsh & McLennan Cos. Inc., a federal judge has slapped an injunction on a former insurance brokerage executive who jumped ship to become a consultant with major competitor Aon Risk Services Inc., prompting Marsh to sue him for breaching nonsolicitation and confidentiality agreements.
Aetna Inc., Rite Aid Corp. and eight other companies have settled patent litigation with billionaire inventor Ronald A. Katz by purchasing licenses that cover the refilling of prescriptions and other customer service operations.
A federal judge has partially dismissed a securities class action against 21st Century Holding Company, a publicly traded insurer whose earnings allegedly were knowingly misrepresented by the company's founder and officers in violation of federal securities laws.
Overriding objections from JPMorgan Chase & Co. and the Federal Deposit Insurance Corp., the judge overseeing Washington Mutual Inc.'s bankruptcy has approved WaMu's request to restrict equity trading of its stock in order to protect what could amount to billions of dollars in tax breaks.