The U.S. Securities and Exchange Commission is investigating Honeywell International Inc.’s accounting of liability for asbestos claims after the company raised its estimate earlier this year by $1.1 billion, the company revealed in its securities filing Friday.
The Fifth Circuit has ruled that an insurance company does not have a duty to pay for part of a $46 million settlement in a Texas firm's fee dispute after the firm deducted expenses from a breast implant class action settlement on top of its agreed-upon commission.
The last week has seen Allianz sue Maersk, a Barclays request to transfer part of its banking business and another filing between two sides fighting over payouts from a £200 million RBS rights holders settlement. Here, Law360 looks at those and other new claims in the U.K.
The founders of pet insurance business Fetch Inc. filed suit in Delaware Chancery Court seeking to rescind an amended deal with an underwriter, claiming it is bad for the business and was made after investor groups led by prominent businessman Vernon W. Hill II and hedge fund billionaire Steven Cohen failed to secure required approval.
Swiss Re discussed investing in Anbang Insurance Group Co., the Canada Pension Plan Investment Board is getting ready to bid for a stake in Gatwick Airport, and Nestle has tapped advisers related to a potential deal to sell its skincare business.
The Trump administration asked the Ninth Circuit on Friday to lift a nationwide ban on new rules that exempt employers with moral or religious objections from providing birth control coverage otherwise required by the Affordable Care Act, saying employers’ First Amendment rights should trounce procedural requirements for passing the new regulations.
Motorola Solutions Inc. sued an AIG subsidiary Thursday in Illinois federal court, saying the insurer used "false and frivolous" reasons to deny coverage for a $28 million legal settlement reached over birth defects in some children of its workers.
The U.S. Department of Justice has recently taken aggressive steps to augment government oversight and insert itself into the planning process for the asbestos bankruptcy trust system, heeding calls from state attorneys general and corporate America for greater transparency in how trusts are run.
Within the next year, the Employee Benefits Security Administration hopes to make association retirement plans a reality, clarify what comes after the fiduciary rule and allow employers to stop covering workers’ birth control by claiming a moral or religious objection to its use.
The trustee of an Ohio freight company's employee stock ownership plan and his company agreed to a nearly $2.5 million judgment to settle the U.S. Department of Labor's claims they cost the plan $6 million through fiduciary breaches, according to filings in federal court.
Wachtell Lipton Rosen & Katz-led Invesco Ltd. will acquire Massachusetts Mutual Life Insurance Co.’s asset management unit OppenheimerFunds in a $5.7 billion deal that will see Simpson Thacher & Bartlett LLP-led MassMutual become the Atlanta-based investment firm’s largest shareholder, the companies said in a statement Thursday.
The Illinois Supreme Court on Thursday threw out a couple's complaint alleging a homeowners insurance agent is to blame for their policy not covering cyberbullying claims against their son, saying the action is time-barred because it was filed more than two years after the allegedly deficient policy was issued.
Hurricane Irma didn’t cause more than $1 million in damage to part of a Florida hotel, a subsidiary of insurance company MS Amlin said Wednesday, arguing that most of the issues existed long before the September 2017 storm or were the result of shoddy construction work.
A Massachusetts federal judge approved a class action settlement Thursday guaranteeing the annuities of 5,000 Aviva PLC customers at a value of up to $41 million, though he raised questions about the lead counsel's request for over $4 million in attorneys' fees.
Horizon Healthcare Services Inc. and CentraState Medical Center Inc. on Thursday announced that they have resolved CentraState's claims in a New Jersey state lawsuit alleging that the insurer's tiered health coverage plan left certain hospitals competitively disadvantaged, leaving only one hospital taking the company to trial next week.
A Michigan federal judge has denied Wausau Underwriters Insurance Co.'s bid to avoid paying an $8.7 million damage award against one of its policyholders, ruling there are issues of fact about whether the insurer acted in bad faith when the insured was sued over a car crash.
Blue Cross Blue Shield insurers facing long-running multidistrict litigation over an alleged conspiracy to divvy up the market are protected by prior settlement agreements that free them from the claims, even though they never signed the deals, an Alabama federal judge ruled Wednesday.
A Texas federal judge on Tuesday held that marine surveyor American Global Maritime Inc. must face negligence claims asserted by insurance underwriters seeking to hold it liable for $500 million in losses from the failure of an offshore oil rig built for Chevron, while tossing other claims against the surveyor and dismissing its foreign affiliates from the suit.
A proposed class of American workers who received psychotherapy through their employers’ health care plans sued United Healthcare Insurance Co. and United Behavioral Health in California federal court Tuesday, accusing them of flouting the Employee Retirement Income Security Act by imposing unfair reimbursement limits on psychotherapy services.
A small California law firm is facing allegations that it tricked a property owner into settling a lawsuit over construction defects for less than it was worth, potentially costing the landowner more than $10 million.
The process of applying for litigation financing isn’t difficult, but few do it right the first time. Following five steps in your application process will help make sure litigation funders are convinced of the value of your company's legal claims, says Molly Pease of Curiam Capital LLC.
Oklahoma's Insurance Business Transfer Act — the latest state run-off law passed in response to increasing demand for such transfers — could prompt constitutional challenges because it allows the transfers to be theoretically approved over the objection of all policyholders, say attorneys at Crowell & Moring LLP.
A Florida state appeals court's decision last month in Restoration 1 v. Ark Royal weakens assignment-of-benefit claims, holding that an insurer may require all insureds and mortgagees to provide written consent prior to executing an assignment-of-benefits agreement, says Margo Meta of Ball Janik LLP.
In an era when law firms are fighting for business and clients can dictate the terms of the relationship, "value" has become a moving target. Firms that take a proactive approach by using strategies designed to articulate value over time will gain the competitive advantage, says Dan Tacone at Intapp Inc.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Pier D'Angelo, chief pricing and practice officer at Allens.
The Sixth Circuit's recent decision in KVG v. Westfield underscores that all insureds should take care to avoid admissions that may be used against them in subsequent litigation over coverage for their losses, say David Kroeger and Edward Vrtis of Jenner & Block LLP.
In the two years since the American Bar Association's controversial anti-discrimination and harassment rule, only one state has adopted it, while numerous state supreme courts, state attorneys general and legal groups have correctly rejected Model Rule 8.4(g) as a threat to lawyers' First Amendment rights, says Bradley Abramson, an attorney with Alliance Defending Freedom.
In the aftermath of Justice Brett Kavanaugh's confirmation, the U.S. Supreme Court should decline review of the nation's most polarizing political questions unless and until the questions become time-sensitive, says Alexander Klein, head of the commercial litigation group at Barket Epstein Kearon Aldea & LoTurco LLP.
In this series featuring law school luminaries, Boston College Law School professor Kent Greenfield reflects on his corporate law theories, his legal battle with the Pentagon over free speech and gay rights, and important constitutional law issues to watch out for.
Whether Justice Brett Kavanaugh’s prior statements may be grounds for disqualification when it comes to judging certain cases is debatable, but there are no specific recusal guidelines for the U.S. Supreme Court. The justices themselves don’t even agree on where to draw the line when it comes to perceived political bias, says Donald Scarinci, a founding partner of Scarinci Hollenbeck LLC.