“Flashing Red”: Finance System Grows More Dangerous – Allianz CEO November 19, 2021 By Tom Sims and Alexander Hübner FRANKFURT — Allianz Chief Executive Officer Oliver Baete said on Thursday that the financial world was getting more dangerous, not...
JPMorgan Sues Tesla For $162M After Musk Tweets Soured Warrant Deal November 17, 2021 By Jonathan Stempel NEW YORK–JPMorgan Chase & Co has sued Tesla Inc for $162.2 million, accusing Elon Musk’s electric car company of “flagrantly”...
US Judge Revives Class-Action Claim in Wynn Resorts Lawsuit August 6, 2021 By Ken Ritter LAS VEGAS (AP) — A federal judge in Nevada has revived elements of a securities fraud lawsuit seeking class-action status...
Fla. Supreme: Insurer Can Pursue Malpractice Suit Against Law Firm That Botched Defense June 4, 2021 By Jim Sams Attorneys who are hired by insurance carriers to defend policyholders from lawsuits have a duty to represent the insured, but...
SEC Says GE to Pay $200M Penalty for Misleading Investors December 10, 2020 By Katanga Johnson and Rajesh Kumar Singh WASHINGTON/CHICAGO — General Electric Co has agreed to pay a $200 million penalty to settle charges for misleading investors over...
8th Circuit Finds No Coverage Owed in Separate Investor Schemes December 8, 2020 By Jim Sams In separate opinions, a federal appellate court affirmed rulings that insurers could dodge liability for wrongful acts by their policyholders...
GM Rethinks Planned Stake in Electric Vehicle Maker Nikola December 1, 2020 NEW YORK — General Motors will not be taking a stake in the electric vehicle company Nikola, and the company...
U.S. Pension Funds Sue Allianz After $4B in Coronavirus Losses September 28, 2020 By Tom Sims FRANKFURT — Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz,...
AmTrust, Ex-CFO to Pay $10.5M to Settle SEC Charges Of Improper Reserves Reporting June 19, 2020 The Securities and Exchange Commission (SEC) has charged insurance company AmTrust Financial Services and Ronald E. Pipoly Jr., its former...
Tesla Can’t Duck Lawsuit Over Musk’s Take-Private Tweet April 16, 2020 By Joel Rosenblatt Tesla Inc. must face an investor lawsuit over Elon Musk’s notorious 2018 tweet about taking the electric car maker private....