directors and officers liability News

WeWork Directors Move to Protect Right to Sue Owner SoftBank Over Nixed Tender Offer

A special committee of WeWork board members filed a motion in Delaware on Monday to prevent it from being disbanded, as it pursues legal action against majority owner SoftBank Group Corp. over an abandoned $3 billion tender offer for the …

Toys ‘R’ Us Creditors’ Lawsuit Accuses Directors, Private-Equity Owners of Fraud

Toys “R” Us Inc. creditors filed a lawsuit accusing the defunct retailer’s executives and private-equity owners of fraud and breach of fiduciary trust. Former Chief Executive Officer David Brandon and other directors misrepresented the toy seller’s ability to repay creditors …

State’s Purdue Opioid Suit Tests Holding Family, Purdue Directors Liable for Crisis

Massachusetts took Purdue Pharma LP to task in a Boston courtroom Friday, blaming the opioid maker and the billionaire Sackler family that owns it for causing “thousands of people to suffer and many to die.” The state has proof Purdue …

Justice Department Vows to Pursue Individual Executives in Corporate Crime Cases

The U.S. Justice Department will make executive accountability a part of every investigation of corporate wrongdoing, Deputy Attorney General Rod Rosenstein said. “Under our revised policy, pursuing individuals responsible for wrongdoing will be a top priority in every corporate investigation,” …

D&O Liability Insurance Could Feel Effects of New York’s Cyber Regulation

While the full implications of the New York State Department of Financial Services’ (DFS) cybersecurity regulation, which went into effect March 1, are still being realized by the insurance industry, many are beginning to question the regulation’s impact to directors …

How to Avoid D&O Policy Pitfalls – and Declined Claims: Marsh Report

When a directors and officers (D&O) claim is declined, it can be catastrophic for an insured, forcing the company to deal with “the financial costs of a claim or loss entirely on its own,” according to a report published by …

Aon Launches Maximum Protection Coverage for Directors & Officers

Aon Risk Solutions, the global risk management business of Aon plc, has launched Maximum Protection D&O, which provides additional coverage to directors and officers when non-indemnifiable D&O limits are exhausted or do not respond. “One of the greatest risks for …

ACE Launches D&O, EPLI Product for Community Associations

ACE Commercial Risk Services, has launched new community associations directors & officers and employment practices liability insurance products. This coverage provides liability protections for homeowner, condominium and retail community associations. “In today’s increasingly litigious environment, community associations and their board …

AG Holder Seeks Tools to Prosecute Executives for White Collar Crimes

U.S. Attorney General Eric Holder last Wednesday called for Congress to take steps to help prosecutors build criminal cases against senior Wall Street executives, saying companies often insulated their leaders from responsibility for misconduct. In a speech before New York …

AIG Responds to Supreme Court ‘Fraud on the Market’ Ruling with D&O Endorsement

American International Group, Inc. (AIG) insurers have introduced a new policy endorsement that ensures primary directors and officers (D&O) policy funds are immediately available to clients named as defendants in securities lawsuits for the preparation of “event studies.” The endorsement …