directors & officers News

5th Circuit Revives Investor Lawsuit Against Six Flags over Failed China Deal

Executives for Six Flags Entertainment Corp. told investors that licensing fees from 11 new theme parks in China could add $60 million annually to the company’s earnings. Instead, cancellation of the projects forced the company to deduct $15 million from …

D&O Insurer Dodges Coverage for $4.9M Embezzlement Scheme

A directors and officers insurer has no duty to defend a New Mexico financial organization from litigation filed after its former chief executive officer was convicted of stealing $4.9 million from clients, a federal appellate court ruled. A panel of …

Wall Street Whistleblowers Tip Off SEC — But Hear Nothing Back

Janice Shell likes to sniff out fraud. An art historian by training, she once spent her days digging through Renaissance archives in Italy. Now 74, retired and living in suburban Philadelphia, she pores over financial filings instead. She hunts for …

Starbucks Executives, Directors are Sued over Diversity Policies

Starbucks Corp. executives and directors have been sued by a conservative think tank that believes the coffee chain’s efforts to promote diversity amount to racial discrimination. In a complaint filed on Tuesday, the National Center for Public Policy Research objected …

D&O Market Has Most Profitable Year Since 2014 but Results May Be an Anomaly

The directors and officers insurance marketplace in 2021 enjoyed its most profitable year since 2014 but results have to be “viewed as a possible aberration rather than a the start of a trend,” according to a new report from AM …

US Supreme Court Spurns Google Bid to Avoid Shareholder Lawsuit

WASHINGTON –– The U.S. Supreme Court on Monday declined to hear Alphabet Inc’s GOOGL.O attempt to nix a lawsuit by shareholders accusing the Google parent company of fraudulently concealing a security glitch that left private user data exposed. The justices …

Investor Sues Drugmaker Astrazeneca Over Coronavirus Vaccine Testing Claims

AstraZeneca PLC was sued by a pension fund on behalf of investors who it says suffered losses because of flaws in the company’s testing of its coronavirus vaccine. For much of last year, the Cambridge, England-based pharmaceutical company was touting …

Viewpoint: Anticipated Coronavirus Claims Scenarios Across Major Coverage Lines

As the COVID-19 pandemic has progressed over the past several months, participants in the insurance industry have recognized the likelihood of a resulting increase in claims volume. Much of the early focus has been on the ramifications to insurers that …

Insurers Fret as Company Bosses Face Coronavirus Legal Claims

Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies that protect the bosses, industry sources say. Two cases have been filed in the United States in …