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UK Conservative Party Pledges to Abolish Serious Fraud Office if Re-elected on 8 June 2017

In my C-Suite Risk Report posting in March, I discussed the UK’s Serious Fraud Office’s (SFO) investigation into Rolls-Royce (RR) and the UK Court’s approval of a Deferred Prosecution Agreement (DPA). As a result of that DPA, RR avoided prosecution, but paid £671m (approximately US $800m) to UK, US and Brazilian authorities in order to … Continue Reading

False Claims Act Litigation and Implications for D&O and Professional Liability Insurers

Sedgwick attorneys Matthew Ferguson (NY) and Kimberly Forrester (SF) have published an article on the Federal False Claims Act (FCA) and its implications for D&O and professional liability insurers. The full article can be viewed here. Among the issues discussed are the background and elements of the FCA and certain recent developments, including the increase … Continue Reading

Strike Three – You’re Out – Data Breach Shareholder Derivative Lawsuit Against Home Depot Dismissed

On November 30, 2016, Judge Thomas W. Thrash dismissed a shareholder derivative action brought against Home Depot as a result of the breach of its security systems and theft of its customers’ personal financial data (“the Breach”) in 2014. In Re The Home Depot, Inc. Shareholder Derivative Litigation, Civ. No. 1:15-CV-2999, 2016 WL 6995676 (N.D. … Continue Reading

Every Rose Has Its Thorn: No D&O Coverage For Bad Loans To Flower Company, Fifth Circuit Says

In a recent decision, the Fifth Circuit ruled in favor of Markel American Insurance Company in a D&O liability coverage dispute centering on the application of the policy’s “Creditor Exclusion.” The panel affirmed a lower court’s holding that the exclusion precluded coverage for claims brought by lenders of the insured. Markel Am. Ins. Co. v. … Continue Reading
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