Dave Lenckus (mailto:dlenckus@BusinessInsurance.com)
CHICAGO?A federal appellate court has upheld its decision to allow a securities fraud case to proceed against Tellabs Inc. nearly seven months after the U.S. Supreme Court overturned the earlier ruling because of the appellate court?s improper analysis of the claimants allegations. The closely...
NEW YORK?Policyholder law firm Anderson Kill & Olick P.C. has rejected a merger offer from the much-larger Reed Smith L.L.P. law firm, but the firms are coordinating the movement of more than one-third of Anderson Kill?s partners to Reed Smith. As a result, about two dozen of Anderson Kill?s 69...
WASHINGTON?Investors cannot sue attorneys, accountants and other third parties that aided and abetted a publicly traded company in a securities fraud scheme that led to substantial investor losses, the U.S. Supreme Court ruled Tuesday. The case has been closely watched because of its affect on a...
ST. LOUIS?A federal appeals court has overturned a lower court?s summary judgment in favor of a construction equipment manufacturer in a product liability lawsuit, ruling that the trial court misinterpreted Missouri law and the U.S. Supreme Court?s guidance on expert witnesses. The unanimous...
Subprime mortgage problems and stock market volatility drove up securities class action lawsuit filings in the second half of 2007, but total filings last year remained below the 10-year average, according to a report released Thursday. With 100 suits filed, the second-half increase ended an...
PROVIDENCE, R.I.?Blue Cross Blue Shield of Rhode Island will pay $20 million to resolve federal public corruption charges over payments that its lobbyists made to state officials, the U.S. Justice Department announced Thursday. As part of the agreement, federal officials agreed not to press...
Various professionals tied to the subprime mortgage debacle face the greatest risk of errors and omissions lawsuits in 11 states, including seven not considered ?litigation-friendly,? according to a new index created by Guy Carpenter & Co. L.L.C. of New York. While the subprime mortgage delinquency...
YESILYURT, Turkey?Istanbul, Turkey-based Atlasjet has $750 million of liability insurance to respond to the loss of 50 passengers who were killed on board an MD-83 jet that crashed on a mountainside in Turkey Friday, according to sources. In an unusual arrangement, the $8 million hull loss will be...
CLEARBROOK, Minn.?An explosion on the biggest oil pipeline that supplies Canadian crude to refineries in the Midwest led to higher U.S. crude oil prices Thursday, but the pipeline owner does not expect that the deadly incident will result in any oil delivery shortages or an insured property loss....
OAKLAND, Calif.?A U.S. District Court jury has determined that JDS Uniphase Corp. and four former top officials did not defraud investors of billions of dollars by issuing positive forward-looking statements about the company shortly before it reported a massive loss. The jury returned its verdict...
