A federal judge said during a court hearing in New York on Thursday he is prepared to order an insurance company to keep paying the legal fees of several former hedge fund managers and traders caught up in an insider …
With a nod to country singer Kenny Rogers, a federal judge has refused for now to allow insurers for former officers and directors of Lehman Brothers Holdings Inc. to pay $90 million to settle a fraud lawsuit brought by investors. …
Rates for directors and officers’ (D&O) liability insurance appear to be firming, having risen only 1.5 percent in the first quarter. According to a benchmark report from insurance broker Marsh, that 1.5 percent increase compares to a 4.5 percent decline …
The trustee liquidating MF Global’s broker-dealer said he may bring civil lawsuits against some of the company’s employees in connection with a massive shortfall in customer funds created in the days leading up to its collapse. Trustee James Giddens said …
Former MF Global Holdings Ltd. Chief Executive Jon Corzine and other company officials won court permission to tap as much as $30 million of insurance money to defend lawsuits over the futures brokerage’s collapse. Tuesday’s decision by U.S. Bankruptcy Judge …
Any U.S. corporate executives who think they can use the Jobs Act’s relaxed rules for public listing to cut corners on accounting and disclosure may want to think again. The Act, signed into law by President Barack Obama last Thursday, …
An MF Global bankruptcy trustee asked a judge on Monday to release $25 million in insurance money to pay defense costs for Jon Corzine and other former MF Global officers facing civil lawsuits over the broker’s October collapse. If paid …
Ambac Financial Group Inc., the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase & Co. to recover losses on securities it insured that were made by a unit of the former Bear …
A U.S. appeals court was asked on Friday to decide whether Goldman Sachs Group Inc. and TCW Asset Management Co. should have foreseen the housing market implosion that caused a $37 million loss for German state-owned Landesbank Baden-Wurttemberg. A three-judge …
Washington Mutual Inc. recently filed a lawsuit against a dozen insurance companies that had provided directors’ and officers’ coverage. The troubled bank holding company that just completed its Chapter 11 restructuring process says its insurers improperly denied D&O claims. Insurers …
