Red Alert: New York Court of Appeals Grants Summary Judgment Based on Insured's Breach of Consent to Settle Provision of Policy

more+
less-

The New York Court of Appeals has reversed an order of the Appellate Division and has found that no coverage exists for Bear Stearns’ $80 million settlement with regulatory authorities in connection with the research analyst investigations.

This action arose out of the settlement entered into in 2002 by Bear Stearns with securities regulators in connection with the investigation into the practices of research analysts working at financial services firms. The investigation focused on allegations that research analysts employed at ten major financial institutions, including Bear Stearns, were improperly influenced by investment banking concerns.

Please see full alert for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ropers, Majeski, Kohn & Bentley | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×