Insurance Journal » Jonathan Stempel http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 24 May 2013 16:02:40 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 AIG May Pursue Fraud Case vs. BofA over Countrywide http://www.insurancejournal.com/news/national/2013/05/07/291217.htm Tue, 07 May 2013 19:28:48 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=291217 American International Group Inc. may pursue a lawsuit accusing Bank of America Corp.’s Countrywide unit of causing billions of dollars of losses by fraudulently inducing it to buy risky residential mortgage-backed securities. U.S. District Judge Mariana Pfaelzer in Los Angeles …

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]]> Google Again Beats Viacom in YouTube Copyright Case http://www.insurancejournal.com/news/national/2013/04/19/289158.htm Fri, 19 Apr 2013 13:13:42 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=289158 A federal judge has thrown out Viacom Inc.’s lawsuit accusing Google Inc. of posting its programs on YouTube without permission, a year after a federal appeals court had revived the landmark copyright infringement case. For the second time in three …

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]]> Mortgage Lender Charged with Defrauding Government Insurer http://www.insurancejournal.com/news/national/2013/04/08/287463.htm Mon, 08 Apr 2013 13:04:52 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=287463 The United States last Thursday sued a New York mortgage company it said defrauded the federal government into insuring poor quality home loans, costing taxpayers millions of dollars. In a civil lawsuit filed in Manhattan federal court, the U.S. Department …

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]]> Gulf Oil Spill Claims Czar Seeks Dismissal of BP Suit http://www.insurancejournal.com/news/national/2013/04/02/286733.htm Tue, 02 Apr 2013 13:00:15 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=286733 The administrator of BP Plc’s settlement with thousands of people and businesses who sued over the 2010 Gulf of Mexico oil spill urged a federal judge on Monday to end the company’s lawsuit over how he determines damages claims. BP …

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]]> Supreme Court Deals Another Blow to Class Actions with Comcast Decision http://www.insurancejournal.com/news/national/2013/03/27/286334.htm Wed, 27 Mar 2013 18:34:34 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=286334 The U.S. Supreme Court on Wednesday ruled in favor of Comcast Corp. in an antitrust case over how much it charged cable TV subscribers, further curtailing the ability of people to pursue class action lawsuits. In a 5-4 decision, the …

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]]> Court Throws Out Class Action Against JP Morgan Over Clearing Broker http://www.insurancejournal.com/news/national/2013/03/18/284989.htm Mon, 18 Mar 2013 12:16:32 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=284989 A U.S. federal appeals court on Friday threw out a class action lawsuit against JPMorgan Chase & Co., making it easier for companies that clear trades to avoid being accountable to investors who are defrauded by their brokerages. The 2nd …

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]]> Greenberg Doubles Claims in AIG Bailout Suit vs. U.S. to $55 Billion http://www.insurancejournal.com/news/national/2013/03/12/284492.htm Tue, 12 Mar 2013 20:43:53 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=284492 Maurice “Hank” Greenberg, the former American International Group Inc. chief executive, has more than doubled the size of his class action lawsuit against the United States over the insurer’s bailout to roughly $55.5 billion from $25 billion. In an amended …

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]]> AIG Shareholders Gain Class Action Status in Greenberg’s Bailout Suit http://www.insurancejournal.com/news/national/2013/03/12/284364.htm Tue, 12 Mar 2013 10:35:37 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=284364 Two groups of American International Group Inc. shareholders won class-action status from a federal judge on Monday in a $25 billion lawsuit by former Chief Executive Maurice “Hank” Greenberg over alleged losses caused by the U.S. government’s bailout of the …

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]]> Government’s Case Against S&P: Ratings Stopped Making Sense http://www.insurancejournal.com/news/national/2013/02/06/280216.htm Wed, 06 Feb 2013 13:41:38 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=280216 Barely two weeks after the big subprime lender New Century Financial Corp. went bankrupt, a top Standard & Poor’s executive assured Congress that her employer could be counted on to sound the alarm for the next credit disaster. S&P ratings …

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]]> SEC Immune from Investors’ Suit Over Madoff, Says Appeals Court http://www.insurancejournal.com/news/national/2013/01/29/279201.htm Tue, 29 Jan 2013 14:01:28 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=279201 Investors who said they lost money in Bernard Madoff’s fraud may not pursue a lawsuit against the U.S. Securities and Exchange Commission for missing the swindler’s Ponzi scheme, a federal appeals court said on Monday. The 9th U.S. Circuit Court …

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]]> Court Considers Travelers Case Limiting Class Actions http://www.insurancejournal.com/magazines/features/2013/01/28/278264.htm Mon, 28 Jan 2013 00:00:00 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=278264 The U.S. Supreme this month weighed whether to impose new limits on class-action lawsuits, as it reviewed whether a homeowner’s lawsuit against his insurer belonged in a state court considered friendly to plaintiffs. During oral argument, several justices suggested that …

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]]> Securities Fraud Class Actions Declined in 2012 http://www.insurancejournal.com/news/national/2013/01/23/278295.htm Wed, 23 Jan 2013 13:04:07 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=278295 Fewer investors are taking corporate America to court for fraud. The number of new federal securities fraud lawsuits seeking class-action status fell to a 7-year low in 2012, according to a study by Stanford Law School and Cornerstone Research released …

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]]> Supreme Court to Hear Stanford Ponzi Lawsuits, Workplace Bias Case http://www.insurancejournal.com/news/national/2013/01/21/278054.htm Mon, 21 Jan 2013 13:45:22 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=278054 The U.S. Supreme Court last Friday agreed to hear four new cases, addressing matters as diverse as the reach of a law designed to combat chemical weapons, and whether lawyers could be sued for having once represented convicted swindler Allen …

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]]> AIG Sues to Preserve Right to Sue Bank of America, Others Over Mortgage Debt http://www.insurancejournal.com/news/national/2013/01/14/277246.htm Mon, 14 Jan 2013 09:00:24 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=277246 American International Group Inc. has filed a lawsuit against a vehicle created by the Federal Reserve Bank of New York to help bail out the insurer, in a bid to preserve its right to sue Bank of America Corp .and …

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]]> Supreme Court Considers Travelers Insurance Case on Limiting Class Actions http://www.insurancejournal.com/news/national/2013/01/07/276375.htm Mon, 07 Jan 2013 22:14:44 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=276375 The U.S. Supreme Court on Monday weighed whether to impose new limits on class-action lawsuits, as it reviewed whether a homeowner’s lawsuit against his insurer belonged in a state court considered friendly to plaintiffs. During oral argument, several justices suggested …

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]]> Federal Court Grants Firm Reprieve from Contraceptive Coverage Mandate http://www.insurancejournal.com/news/national/2012/12/31/275592.htm Mon, 31 Dec 2012 17:25:48 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=275592 A divided federal appeals court has temporarily barred the U.S. government from requiring an Illinois company to obtain insurance coverage for contraceptives, as mandated under the 2010 healthcare overhaul, after the owners objected on religious grounds. More than 40 lawsuits …

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]]> U.S. Apppeals Court Revives Workplace Cybertheft Claim http://www.insurancejournal.com/news/national/2012/12/27/275224.htm Thu, 27 Dec 2012 10:00:13 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=275224 In a decision that could make it easier for businesses to police cybertheft in the workplace, a U.S. appeals court revived a chemical company’s lawsuit accusing a former Toronto-area employee of using her home computer to steal trade secrets from …

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]]> Court Finds Rating Agencies Not Liable on Toxic Mortgages http://www.insurancejournal.com/news/national/2012/12/04/272628.htm Tue, 04 Dec 2012 11:34:14 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=272628 Major credit rating agencies won a fresh legal victory on Monday when a federal appeals court rejected a lawsuit by Ohio pension funds that sought to recoup millions of dollars of losses on risky mortgage debt they said were based …

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]]> Supreme Court to Rule If Human Genes Patentable http://www.insurancejournal.com/news/national/2012/12/03/272547.htm Mon, 03 Dec 2012 17:28:28 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=272547 The U.S. Supreme Court on Friday agreed to decide whether human genes can be patented, a hotly contested issue with broad consequences for the future of gene-based medicine. The nation’s highest court agreed to review a case over whether Myriad …

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]]> Ex-AIG CEO Greenberg, Starr May Appeal Dismissal of Bailout Suit http://www.insurancejournal.com/news/national/2012/11/19/271000.htm Mon, 19 Nov 2012 13:57:56 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=271000 The Federal Reserve Bank of New York won the dismissal of former American International Group Inc. Chief Executive Maurice “Hank” Greenberg’s $25 billion lawsuit accusing it of unlawfully bailing out the insurer during the 2008 financial crisis. The decision issued …

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]]> Supreme Court Weighs Key ‘Gray’ Market Copyright Case http://www.insurancejournal.com/news/national/2012/10/31/268532.htm Wed, 31 Oct 2012 04:17:42 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=268532 Several justices on the U.S. Supreme Court voiced concern on Monday about letting U.S. copyright holders block the resale inside the country of products they make elsewhere, in one of the court’s biggest copyright cases in years. The case, likely …

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]]> Supreme Court Rejects John Hancock Appeal Over Retirement Plan Lawsuits http://www.insurancejournal.com/news/national/2012/10/30/268430.htm Tue, 30 Oct 2012 09:00:25 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=268430 The U.S. Supreme Court refused on Monday to consider two appeals in a case weighing the ability of tens of millions of Americans to bring lawsuits over their retirement plans. Without comment, the court let stand an April ruling by …

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]]> Supreme Court Weighs Government Liability Under Credit Reporting Law http://www.insurancejournal.com/news/national/2012/10/03/265257.htm Wed, 03 Oct 2012 12:33:21 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=265257 The U.S. Supreme Court on Tuesday considered whether the federal government could be liable for money damages by printing confidential credit card information on a customer’s receipt, increasing the risk of identity theft. A decision against the government could make …

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]]> Supreme Court Lets Black Brokers’ Bias Case Against Merrill Proceed http://www.insurancejournal.com/news/national/2012/10/02/264970.htm Tue, 02 Oct 2012 13:10:15 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=264970 The U.S. Supreme Court refused to consider an appeal by Bank of America Corp.’s Merrill Lynch unit of a ruling that allowed black brokers who accused it of bias to pursue their lawsuit as a class action. Without comment, the …

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]]> ABC News Sued for Defamation Over ‘Pink Slime’ Reports http://www.insurancejournal.com/news/national/2012/09/13/263015.htm Thu, 13 Sep 2012 17:01:29 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=263015 ABC News was hit with a $1.2 billion defamation lawsuit on Thursday by a South Dakota meat processor that accused it of misleading viewers into believing that a product that critics have dubbed “pink slime” was unsafe. Beef Products Inc. …

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]]> Judge Dismisses Velvet Underground Copyright Claim vs. Warhol Over Banana http://www.insurancejournal.com/news/east/2012/09/11/262572.htm Tue, 11 Sep 2012 12:28:06 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=262572 A federal judge has dismissed part of The Velvet Underground’s lawsuit accusing the Andy Warhol Foundation for the Visual Arts of violating its rights to an iconic banana image used on the rock band’s best-known album. While Velvet Underground’s trademark …

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]]> Court Rules Employers Must Reassign Disabled Workers to Vacant Jobs http://www.insurancejournal.com/news/national/2012/09/10/262387.htm Mon, 10 Sep 2012 10:37:20 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=262387 A federal appeals court has revived an Equal Employment Opportunity Commission lawsuit against United Airlines Inc., and said U.S. law generally requires employers to reassign disabled workers to vacant jobs for which they are qualified. Friday’s decision by the 7th …

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]]> Supreme Court to Review State v. Federal Class-Action Case Involving Insurer http://www.insurancejournal.com/news/national/2012/09/03/261535.htm Tue, 04 Sep 2012 00:49:25 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=261535 The U.S. Supreme Court on Friday agreed to consider the constitutionality of a legal tactic that can make it harder for companies to defend against class-action lawsuits, in a case it will review in the term that starts on Oct. …

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]]> Ford Sued Over Patent Infringement http://www.insurancejournal.com/news/national/2012/08/31/261391.htm Fri, 31 Aug 2012 16:12:47 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=261391 Ford Motor Co has been sued for allegedly infringing a patent that covers a fuel-injection system it uses in its top-selling F-150 truck. According to a federal complaint made public on Thursday, TMC Fuel Injection System LLC of Wayne, Pennsylvania, …

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]]> Citigroup Settles Securities Lawsuit for $590M http://www.insurancejournal.com/news/national/2012/08/30/261213.htm Thu, 30 Aug 2012 12:21:36 +0000 Jonathan Stempel http://www.insurancejournal.com/?p=261213 Citigroup Inc. agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis. The agreement resolves claims …

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