Articles by Ross Kerber

Here’s What AIG Paid CEO Duperreault

American International Group paid its new chief executive Brian Duperreault $43.1 million last year, a securities filing showed on Tuesday. AIG, which during the financial crisis faced questions over the compensation of former leader Maurice “Hank” Greenberg, had previously outlined …

Smith & Wesson Gun Maker CEO Defends Safety Efforts

The top executives of gun maker American Outdoor Brands Corp. on Tuesday defended their safety efforts in a letter to asset manager BlackRock Inc. posted on the website of the maker of Smith & Wesson guns. American Outdoor Brands and …

Shareholder Activists Press Drug Firms on Business Risks of Opioid Crisis

U.S. shareholder activists are addressing a soaring death toll from opioid drug abuse, asking companies that make and distribute the painkillers to review the risks their businesses could face from their role in the sector. Leaders of a 30-fund group …

Wells Fargo Facing Disclosure Questions Over ‘Phantom’ Sales Scandal

A phantom account scandal at Wells Fargo & Co. has put the U.S. bank’s disclosure policies under a harsh spotlight. Despite press reports that a federal regulator and the Los Angeles prosecutor were investigating sales practices at retail branches of …

Asset Managers Urged to Make Cyber Risk Top Priority

Investors are being poorly served by a haphazard approach from fund managers to the growing threat of cyber crime damaging the companies in which they invest, with a lack of clarity from the businesses themselves compounding the problem. Banks have …

Citi Skimped on ID Theft Protection for Data Breach Victims: Reuters

After a massive data breach last month, Citigroup did not offer its hacked clients the same degree of identity-theft protection that many other companies provide, drawing criticism from privacy advocates. Citigroup, which had over 360,000 credit card accounts exposed last …

Supreme Court Defines Primary Liability in Mutual Fund Prospectus Case

Janus Capital Group Inc. and a subsidiary cannot be held liable in a lawsuit by shareholders over allegedly false statements in prospectuses for several Janus mutual funds, the U.S. Supreme Court ruled Monday. By a 5-4 vote in a narrow …

Has Time Come to Cap Whistleblower Awards?

Corporate whistleblowers are getting bigger and bigger payouts for reporting fraud, sparking a fresh debate about whether the rewards are justified. Whistleblowers have collected billions of dollars since the late 1980s by suing government contractors under the False Claims Act …

Huge Hacking Case Highlights Companies’ Vulnerability to Breaches

Consumers and companies are vulnerable to hackers and identity thieves even after U.S. authorities arrested a man they said was a master hacker who stole 170 million credit and debit card numbers. Estimates on the total financial impact of breaches …

SEC Watchdog Blasts Agency for Fumbling Madoff Probes

U.S. securities regulators missed “numerous” red flags that may have led to Bernard Madoff’s $65 billion Ponzi scheme and never did a “thorough and competent” probe despite complaints dating to 1992, a federal watchdog has concluded. The U.S. Securities and …