An investment company and its CEO agreed Thursday to pay more than $4 million to settle a New Jersey federal suit alleging they took in new money to pay off earlier investors in a Ponzi-like scheme and cut the owner an outsize take of the capital raised, the U.S. Securities and Exchange Commission announced.
The insurers of $9 billion of Puerto Rico’s $70 billion debt told a federal court Wednesday that the commonwealth's fiscal plan illegally prioritizes government spending over debt service.
A Florida insurance broker will pay $100,000 to settle a U.S. Equal Employment Opportunity Commission suit alleging it rescinded a job offer when it learned the recipient was pregnant, according to an order filed Wednesday in Florida federal court.
International insurance and litigation giant Kennedys is set to merge with midsize U.S. law firm Carroll McNulty & Kull, the firms announced Thursday, creating a law firm with more than 1,000 lawyers and continuing Kennedys’ march into the Americas.
President Donald Trump signed an executive order Thursday directing federal agencies to look into exempting religious employers from the Affordable Care Act’s contraceptive mandate.
The U.S. House of Representatives passed its sweeping health care overhaul Thursday afternoon on a close partisan vote, with the American Health Care Act altering many of the Affordable Care Act's taxes, coverage requirements and pre-existing condition protections.
An Illinois appeals court on Tuesday upheld a trial court's decision not to revive a suit over the indemnification of a Canadian home health-support company following a settlement it reached with an Illinois firm in a suit over alleged junk faxes.
The Ninth Circuit on Wednesday revived a putative class action alleging AARP Inc. members are tricked into paying inflated rates with a hidden commission for supplemental Medicare insurance, ruling there’s a plausible claim that the nonprofit “solicits” insurance without a license, against California law.
Travelers Indemnity Co. and related entities lost their bid Tuesday to litigate a dispute in Illinois state court over insurance coverage for remediation costs facing a unit of British ingredients firm Tate & Lyle PLC in the more than $1 billion cleanup of a heavily polluted river in New Jersey.
Washington state's high court recently held that a pollution exclusion doesn't negate liability coverage where negligence is the primary cause of a loss, a ruling that drastically curtails insurers' ability to wield such exclusions to deny policyholders a defense against lawsuits alleging negligent conduct.
House leaders plan to hold a vote Thursday to repeal the Affordable Care Act, with further tweaks to the repeal bill announced Wednesday that add $8 billion in federal support for new high-risk pools for people with pre-existing health conditions.
Dillard’s employees who had their personal information made public cannot collectively sue the insurer that allegedly caused the breach because the potential class members are spread across too many states, all with separate contract laws, an Illinois federal judge ruled Wednesday.
The Fourth Circuit on Wednesday reversed a lower court’s ruling that Allstate Insurance Co.’s denial of flood insurance coverage to a North Carolina couple was a “flagrant act of bad faith,” finding the suit was barred by the strict one-year statute of limitations for flood insurance claims.
A Third Circuit panel on Tuesday overturned a Pennsylvania district court and determined that a Pennsylvania law requiring an insurance company to pay unpaid property taxes before remitting fire insurance proceeds to a policyholder applied even if that policyholder didn’t own the property.
The Wisconsin Court of Appeals on Tuesday reversed a lower court decision and found Erie Insurance Co. has a duty to defend a media company against a suit over destroyed videotapes, saying the tapes were physical property covered by the company’s policy.
Several financial industry and insurance groups told the Fifth Circuit on Tuesday that the U.S. Department of Labor exceeded its “narrow authority” and flouted longstanding distinctions between fiduciaries and salespeople in developing its fiduciary rule for retirement account advisers.
Elliott Management's Jesse Cohn has reportedly dropped $30 million on a Manhattan penthouse, Allstate is said to be leasing 57,000 additional square feet in a Chicago Vornado Realty Trust building, and CC Homes has reportedly landed $56 million in financing for a Florida residential project.
The New Jersey Appellate Division on Wednesday affirmed the denial of additional insurance coverage to a furrier that lost power during Superstorm Sandy when an offsite transformer was damaged, ruling that the policy only covered damage that occurred on the premises.
Home security company Monitronics Inc. fought back Tuesday against First Mercury Insurance Co.’s attempt to shut down a robocall coverage dispute in Texas federal court in favor of a parallel suit in West Virginia, telling the Texas court the insurer’s actions amounted to forum shopping.
The U.S. Department of Justice on Monday hit UnitedHealth Group Inc. with the government’s first-ever False Claims Act complaint in a whistleblower-led suit alleging Medicare Advantage fraud, kicking off a key test for a new realm of FCA litigation.
It is likely that in the future, aspects of blockchain technology will be integrated into current real estate recording systems in order to make transfers faster, cheaper and more secure. Notwithstanding reservations about blockchain, the smart money is to bet on its implementation, say S.H. Spencer Compton of First American Title Insurance Co., and Diane Schottenstein.
Looking at the impact and potential effects of cases like Trafalgar, Lime Bay and Cammarata can assist insurers and their counsel with forming an effective defense against the perpetual threat of first-party bad faith claims, says Rory Jurman of Fowler White Burnett PA.
With the 2017 retail season in full swing, what issues are keeping retailers up at night? Ann Schofield Baker of Perkins Coie LLP has distilled a list of top retail risks and trends this year, ranging from data breaches, cyber-ransom threats and toxic chemical compliance to the potential for litigation over subjects including shipping fees, discount pricing and website accessibility.
Most people have never had an opportunity to personally take part in a legal case that directly challenges laws or policies they don’t agree with. Now that crowdfunding is available for legal cases, people can engage directly with legal change in the community and be a check on the powerful, says Julia Salasky, CEO of CrowdJustice.
Though Florida standard jury instruction regarding insurers' bad faith is very clear, this standard is rarely simple in practice. In the first part of this two-part series, Rory Jurman of Fowler White Burnett PA aims to shed light on some of the convoluted elements insurers may encounter when dealing with bad faith claims.
Perhaps lost in the presidential post-election tumult was a report issued in late 2016 by an international body evaluating U.S. compliance with anti-money laundering and counter-terrorist financing standards. Considering repeated criticisms of the legal profession, the American Bar Association should seriously consider a new model legal ethics rule, says Kevin Shepherd of Venable LLP.
In the final segment of his series on lateral recruitment, Howard Flack, a partner of Volta Talent Strategies LLC and former leader of the lateral partner recruiting team at Hogan Lovells, shares a number of factors law firms should consider when measuring lateral hire success.
Although the American Health Care Act was withdrawn from a U.S. House of Representatives vote scheduled last month, major Affordable Care Act changes for employers and group health plans remain possible this year, says Eric Schillinger of Trucker Huss APC.
Earlier this year, the Centers for Medicare and Medicaid Services announced its position that Medicare Advantage organizations cannot enter into quota share reinsurance arrangements. In an update to a previous article, Jon Biasetti and Ben Sykes of Locke Lord LLP explain why the CMS is now reconsidering its position, and how MAOs should react.
In the second installment of this series on lateral recruiting, Howard Flack of Volta Talent Strategies LLC challenges law firms to ask themselves whether business strategies are determining lateral hires — or vice versa.