directors and officers (D&O) News

UK Accounting Firm Grant Thornton Fined for Audit of Café Chain Patisserie Valerie

Accountancy firm Grant Thornton has been fined for its audit of Patisserie Valerie, the British cafe chain that collapsed in 2018, throwing 900 people out of a job and triggering a separate fraud investigation into accounting irregularities. The Financial Reporting …

Twitter Agrees to Pay $810M to Settle Shareholder Lawsuit Over Growth Prospects

Twitter Inc. agreed to pay $809.5 million to settle a shareholder class action lawsuit that accused the social media company of painting an overly rosy picture of its future. The suit, originally filed by Twitter shareholder Doris Shenwick, claimed executives …

Ireland to Introduce Laws to Make Insurers, Bankers Accountable for Corporate Failings

DUBLIN – Ireland will introduce long-anticipated laws to make senior bankers and executives in other financial sectors directly accountable for failings at institutions over the next 12 to 18 months, Finance Minister Paschal Donohoe said on Tuesday. Donohoe had planned …

VW Investors Approve $339M Deal to Settle Diesel-Scandal Claims Against Former Execs

FRANKFURT – Shareholders in Europe’s largest carmaker Volkswagen on Thursday approved a deal to settle claims against four former executives, including long-time CEO Martin Winterkorn, related to the company’s emissions scandal. The initial deal, which was announced last month and …

BHSI Introduces D&O Liability and Professional Indemnity Policies in Ireland

Berkshire Hathaway Specialty Insurance (BHSI) announced it has added to its customized suite of directors & officers (D&O) liability and professional indemnity policies, for customers in Ireland. The company has launched a new suite of “Professional First” coverages, which includes …

Volkswagen’s D&O Liability Insurers Agree to Pay €270M of Diesel Emissions Payout

FRANKFURT — Volkswagen said on Wednesday it had agreed to settle claims against four former executives, including long-time CEO Martin Winterkorn, that will see the carmaker receive 288 million euros ($351 million) in compensation related to its emissions scandal. The …

Jailed Ex-Wirecard CEO Files Lawsuit Against Chubb to Get D&O Coverage

Markus Braun, the former chief executive officer of scandal-ridden Wirecard AG who has been in jail for almost a year, sued insurance giant Chubb Ltd. to make it pick up his legal bills, people familiar with the case said. Braun, …

Beat Capital Launches Tegron Specialty for D&O; Names Navigators’ Shore CEO

LONDON – Beat Capital Partners Ltd. , along with industry veteran Paul Shore have opened a new underwriting vehicle Tegron Specialty that will focus on directors and officers insurance for publicly traded companies, specialising in excess of loss placements. As …

Greensill Creditors OK Australian Liquidation; Further Investigations Expected

Creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, voted on Thursday to liquidate the company, its administrator said, triggering deeper investigations into the conduct of its directors. Grant Thornton (GT), the liquidator appointed …

Cyber Attacks and Data Loss Are Top 2 Risks Facing Directors & Officers: WTW Survey

Cyber attacks and data loss are the top two risks facing directors & officers, with pandemic-related changes in working practices heightening these concerns, according to a global survey from broker Willis Towers Watson and law firm Clyde & Co. Covering …