Germany’s Allianz said on Wednesday it would set aside another 1.9 billion euros ($2 billion) as it braces for the outcome of U.S. regulatory investigations into a multibillion-dollar trading debacle at its funds arm. The collapse of a $15 billion …
Houston, Texas-based Skyward Specialty Insurance Group, Inc. is expanding its Management Liability solutions by offering targeted directors and officers (D&O) coverage to Non-Standard Non-Profit Condominium and Homeowner Associations (HOA). With the new coverage, Skyward Specialty says board members of non-standard, …
It’s every investor’s dream: Make money when markets go up, and when markets go down, and even when markets go practically nowhere. But inside Allianz SE, where a handful of hedge fund managers claimed they could do just that, few …
The U.S. Justice Department’s top priority in rooting out corporate malfeasance is to hold individuals accountable, Attorney General Merrick Garland said March 3 as he detailed a shift in focus and resources at the agency. The agency is allocating resources …
Allianz ALVG.DE has dismissed two asset managers who oversaw a group of investment funds that collapsed after racking up massive losses when the spread of coronavirus triggered wild market swings, according to regulatory filings. The downfall of the $15 billion …
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 …
Top board leaders of Texas’ embattled power grid operator have resigned following outrage over more than 4 million customers losing electricity during the mid-February deadly winter storm, including many whose frigid homes lacked heat for days in subfreezing temperatures. The …
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 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 …
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 …
