Litigation/Liability Trends
AIG Units Suing to See Asbestos Trust Records; Millions in Fraudulent Payments Suspected
Six insurance companies are suing an asbestos personal injury trust set up by a U.S. unit of Philips that the insurers suspect has been making millions of dollars in fraudulent payments to parties ...
Supreme Court Deals Blow to Madoff Victims
Victims of the Ponzi schemes of Bernard Madoff and Allen Stanford, two of the largest in U.S. history, suffered setbacks on Monday as the U.S. Supreme Court refused to hear appeals in two cases ...
Regulators Shining Spotlight on ‘Dark Pools’
Regulators are moving to shine a light on "dark pools", opaque and quasi-anonymous trading venues. New York's attorney general has filed a lawsuit against British bank Barclays relating to its dark ...
Federal Appeals Court Blocks Darvon, Darvocet Painkiller Lawsuits
A federal appeals court on Friday upheld the dismissal of nearly all claims in 68 cases seeking to hold drug makers liable for injuries from the use of the prescription painkillers Darvon and ...
GM Switch Crash Compensation Could Cost Billions
The attorney overseeing General Motors' compensation to victims of small-car crashes says there's no limit to what the company will pay, provided the crashes were caused by faulty ignition switches. ...
Sept. 11 Victims Lose Right in U.S. to Sue Firms With Alleged Al-Qaeda Ties
The U.S. Supreme Court turned away an appeal by thousands of Sept. 11 attack victims who sought to sue Middle Eastern companies and people for allegedly providing crucial support to al-Qaeda. The ...
U.S. Bond Funds Sue Puerto Rico Over Bankruptcy Law Changes
U.S. mutual funds holding about $1.7 billion in Puerto Rico debt have sued the cash-strapped commonwealth, accusing the Caribbean island of passing an act modeled after the U.S. bankruptcy code in ...
Ex-AIG CEO Greenberg Loses Supreme Court Appeal Over Company’s Bailout
The U.S. Supreme Court on Monday rejected an appeal by former American International Group Inc Chief Executive Maurice "Hank" Greenberg, who accused the Federal Reserve Bank of New York of unlawfully ...