In its recent decision in State Farm Fire & Cas. Co. v. Anderson, 2013 U.S. Dist. LEXIS 57837 (S.D. Miss. Apr. 23, 2013), the United States District Court for the Southern District of Mississippi had occasion to consider...more
Many companies and individuals that are facing investigations or subsequent enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) will be forced to incur substantial sums to defend such claims, to settle...more
Here's an often asked question: "How long should I keep my insurance policies?" Is it three years? Seven Years?
The short answer is none of the above.
Here are my recommendations...more
Protection of the personal assets of board members and c-suit corporate officers through indemnification and insurance is a challenge for financially troubled companies seeking to retain and hire the best people to help...more
In its recent decision in David Lerner Assocs. v. Philadelphia Indem. Ins. Co., 2013 U.S. Dist. LEXIS 46333 (E.D.N.Y. Mar. 29, 2013), the United States District Court for the Eastern District of New York had occasion to...more
Much like their counterparts on the boards of public companies, board members of many nonprofit corporations increasingly, and quite understandably, are raising questions concerning their potential personal liability and the...more
Whether you run a nonprofit or serve on the board, you have a responsibility to make sure your organization is both in compliance and in shape to weather any storm or to take advantage of growth opportunities. But with...more
In Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085 (Slip Op. Feb. 27, 2013), the U.S. Supreme Court, in a 6-3 majority opinion (Ginsburg, J.), affirmed the U.S. Court of Appeals for the 9th Circuit’s...more
Federal enforcement of False Claims Act (FCA), Stark anti-kickback, and HIPAA/HITECH claims against healthcare companies continues to rise rapidly. FCA recoveries by the U.S. Department of Justice (DOJ) exceeded $9.5 billion...more
Directors and Officers (“D&O”) policies, like all insurance contracts and contracts in general, are governed by the specific wording unique to each contract. Nonetheless, there are several issues that can arise as to the type...more
Last week, a jury in Los Angeles federal court in a case entitled FDIC v. Van Dellen, et al. found three former officers of the failed IndyMac Bank liable for $168 million in losses in construction loans suffered by the...more
I am frequently asked about the safety of director service. Below is the text of a short article I wrote for a forthcoming issue of a business publication....more
Record levels of cash on company balance sheets, cheap financing, and the elimination of political uncertainty following the November presidential election have led many analysts to predict an uptick in M&A activity in the...more
Policyholders were recently granted a sweeping victory on critical issues of insurance coverage for subpoenas and securities-related costs in the Second Circuit’s MBIA Inc. v. Federal Insurance July 1, 2011, opinion. Perhaps...more
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