News & Analysis as of

D&O Insurance Department of Justice (DOJ)

Lowenstein Sandler LLP

Closing Coverage Gaps: California Court Emphasizes the Importance of Coordinated Insurance Policies in Complex Claims Environments

Policyholders must be vigilant in coordinating their insurance program across coverage lines in today’s complex claims environment. Often resembling a “patchwork quilt” – modern businesses protect against a wide range of...more

Pillsbury - Policyholder Pulse blog

Narrowing the Professional Services Exclusion: Policyholder Lessons “Arising Out of” Practice Fusion v. Freedom Specialty...

A recent decision by a California appellate court in Practice Fusion, Inc. v. Freedom Specialty Insurance Company, denying the policyholder more than $118 million in Directors & Officers liability coverage based on an...more

Woodruff Sawyer

FTC Holding Corporate Officers Personally Liable for Bad Business Practices

Woodruff Sawyer on

The FTC’s mission is protecting the public from deceptive or unfair business practices and from unfair methods of competition through law enforcement, advocacy, research, and education. The FTC’s scope of responsibilities...more

Pillsbury - Policyholder Pulse blog

Delaware Bankruptcy Court Ruling Creates a Nightmare for D&O Policyholders Facing Qui Tam Actions

When is a claim “brought” against an insured? A Delaware bankruptcy court’s answer to this seemingly innocuous question turned into a nightmare for the estate of a bankrupt insured...more

Pillsbury - Policyholder Pulse blog

Navigating Insurance for NYC’s $708M Lawsuit Against 17 Bus Companies

In recent months, the United States-Mexico border has seen an unprecedented surge of migrants. With this wave, various state and local authorities across the nation have expressed a strain on their public resources and...more

Wiley Rein LLP

Seventh Circuit Holds Settlement Arising From Alleged False Claim Act Violations Does Not Necessarily Constitute Uninsurable...

Wiley Rein LLP on

The United States Court of Appeals for the Seventh Circuit, applying Illinois law, has held that a $100 million settlement between the United States government and a pharmaceutical company for claims arising under the False...more

Wiley Rein LLP

Kentucky Supreme Court Holds Prior Notice Exclusion Does Not Bar Coverage for Claims Related to Investigation Noticed and Accepted...

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Applying Kentucky law, the Kentucky Supreme Court has held that a prior notice exclusion did not bar coverage for a claim related to a government investigation noticed and accepted by a prior insurer because the insurers were...more

Woodruff Sawyer

Interlocking Directorates: The DOJ’s Latest Target

Woodruff Sawyer on

In 2021, the Biden administration pledged to ramp up antitrust enforcement efforts through an executive order. The next year, the Department of Justice’s Assistant Attorney General Jonathan Kanter announced the agency would...more

Woodruff Sawyer

What the DOJ’s New Criminal Enforcement Rules Mean to Directors, Officers, and the Companies They Serve

Woodruff Sawyer on

In September 2022, the US Department of Justice released a memorandum that updates and revises its corporate criminal enforcement policies in conjunction with a speech delivered by Deputy Attorney General Lisa Monaco on...more

Wiley Rein LLP

Professional Services and Contract Exclusions Do Not Bar Coverage for Settlement of False Claims Act Investigation

Wiley Rein LLP on

The Delaware Superior Court has held that a professional services exclusion and a contract exclusion in a D&O policy do not bar coverage for a False Claims Act settlement. Guaranteed Rate, Inc. v. ACE Am. Ins. Co., 2022 WL...more

White and Williams LLP

A Changing Climate: the Rising Tide of ESG Liability and Implications for D&O Coverage

The latest legal buzzword, ESG, represents the environmental, social and governance factors that many corporations are now required to consider and disclose alongside traditional financial information such as operating...more

Cozen O'Connor

Ninth Circuit Affirms Application of Goods & Products Exclusion

Cozen O'Connor on

On March 9, 2022, the U.S. Court of Appeals for the Ninth Circuit, in Sentynl Therapeutics, Inc. v. U.S. Specialty Ins. Co, 2022 WL 706941 (9th Cir. Mar. 9, 2022) (applying California law), affirmed a district court’s holding...more

Woodruff Sawyer

Guide to D&O Insurance for SPAC IPOs (and How to Save Money on Your D&O Insurance Premium)

Woodruff Sawyer on

SPACs (special purpose acquisition companies) had a volatile year in 2021, raising more funds in the public market and doing more business combinations than ever before. After an extremely busy first quarter the pace of SPAC...more

Woodruff Sawyer

SPAC Litigation Outlook: 2021 Trends Lead to 2022 Predictions

Woodruff Sawyer on

There was no shortage of excitement and drama in the world of SPACs in 2021. The year started with IPOs of hundreds of SPACs in numbers that eclipsed everyone’s expectations. The exuberance in the SPAC market in the first...more

Lowenstein Sandler LLP

In the Know: The Lowenstein Insurance Recovery Group’s Tip of the Month - October 2021

Lowenstein Sandler LLP on

A recent coverage case from Illinois is a helpful reminder to policyholders that they should not take no for an answer when insurers deny a claim based on uninsurability, restitution, disgorgement, or fraud. In fact, those...more

Hicks Johnson

Are SPACs Going to Lose Their Safe Harbor?

Hicks Johnson on

On May 24th, 2021, the U.S. House Committee on Financial Services held a hearing regarding SPACs, direct listings, public offerings, and investor protection associated with these offerings. Prior to the hearing, the committee...more

Jones Day

Companies Should Not Overlook Potential D&O Coverage When Responding to Government Subpoenas

Jones Day on

The Situation: Corporate policyholders, and their individual officers and directors, often incur significant fees and costs when forced to respond to government subpoenas that may require extensive document productions and...more

Pillsbury Winthrop Shaw Pittman LLP

Implications of PPP Certifications for D&O Coverage

Check your D&O Policy carefully before signing. In the coming months, we will inevitably see new charges brought by the DOJ against borrowers for false statements made in PPP loan applications....more

Pillsbury Winthrop Shaw Pittman LLP

Developments Highlight Secondary Liability Risks for Private Funds

DOJ settlement signals need for enhanced False Claims Act scrutiny. Private funds continue to face heightened secondary liability risks arising from their portfolio investments....more

K&L Gates LLP

Dollars and Sense: Making the Most of Your Company’s Insurance Policy When Served with a Government Subpoena

K&L Gates LLP on

Served with a Subpoena? When a company receives a subpoena or otherwise learns it is a witness, subject or target of a government investigation, its initial response typically involves contacting outside counsel...more

Troutman Pepper

Risky Business: Protecting the Assets of Directors

Troutman Pepper on

Directors and officers are exposed to potential liability from suits by the company, shareholders, and debt holders, among others. There are, however, a number of protections available to protect the assets of directors and...more

Perkins Coie

Navigating Yates Memo Minefield and Broadening of Excess Side-A DIC D&O Insurance Policies

Perkins Coie on

Former Deputy Attorney General Sally Yates issued a memorandum (the Yates Memo) in September 2015 setting forth guidance on how the U.S. Department of Justice would handle future corporate investigations and, to the extent...more

McDermott Will & Emery

Insuring Against Yates: The Impact on D&O Insurance

McDermott Will & Emery on

The Yates Memo has many landscape-changing implications for corporate investigations, including the need for enhanced Upjohn warnings and the potential suppression of joint-defense agreements between corporations and their...more

Mintz

Israel Connect - Legal Insight for Success in the US Market

Mintz on

We are excited to present you with the second issue of Israel Connect — our quarterly newsletter focused on forging new connections and strengthening existing bonds between Israeli businesses and the US market. In our second...more

Manatt, Phelps & Phillips, LLP

Insurance Recovery Law - November 2015

Despite Prior Suits, Policyholder Entitled to Coverage for DOJ Investigation - Why it matters: A policyholder was entitled to coverage for a Department of Justice (DOJ) investigation despite already facing possibly...more

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