reputational risk News

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 …

JPMorgan Must Face Discrimination Claim by Arab-American Family Business

An Arab-American family whose business and personal bank accounts were closed in 2014 without explanation can sue JPMorgan Chase for racial discrimination, a federal judge in Detroit has ruled. Filed in February, the lawsuit by Najah Manni, his wife Kathy …

Mitsubishi Motors Faces Uncertain Future as Fuel Test Scandal Deepens

For the second time in about a decade, Mitsubishi Motors Corp. faces a scandal that poses an existential threat. The Japanese automaker has improperly tested the fuel economy of its cars for the past quarter century, widening the scope of …

Lloyd’s Insurers Lead New Trend to Sell Legacy Portfolios: Willis Towers Watson

The majority of Lloyd’s businesses (77 percent) are considering legacy portfolio disposals, with more than half of firms based in western Europe (53 percent) expecting to make at least one sale in the next three years, according to Willis Towers …

Hacked Adulterers’ Website Faces Reputation Risk; 36M Users Fear Being Outed

Hackers claiming to have stolen data from AshleyMadison.com, a website that facilitates hook-ups between would-be adulterers, have released information they say includes details of more than 36 million user accounts. The data dump appears to be “legit” and includes full …

IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers

The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters Holdings Ltd., both based in Bermuda, have each said in recent regulatory …

College Sexual Assault Charges Hard to Prove

An anonymous college student said in a media report that she had been gang-raped at a fraternity house. She told the reporter that she was drugged and beaten around the face, legs and vagina, yet a university dean ignored her …

Negative Comments Lead Michigan Marketing Firm to Sue Client

A Hartland Township marketing and Web design firm sued a former client over comments it made about the company online and in a letter to a business networking group. Five Sparrows filed the defamation suit against James Beasley and his …

Church Investor Sues Wal-Mart Over Sale of Guns, ‘Offensive’ Music

Wal-Mart Stores Inc.’s sale of sexually charged music and high-capacity weapons hurts the company’s image, an historic Wall Street church said in a lawsuit seeking to force a shareholder vote on tightening board oversight of products that offend “family values.” …

Best Places S.A.C. Re Ratings under Review/Negative

A.M. Best Co. has placed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based S.A.C. Re, Ltd. under review with negative implications. Best explained that the rating actions reflect its “concern with the business …