In its long-awaited June 2014 decision in the Halliburton case, the U.S. Supreme Court declined to jettison the fraud on the market theory on which the presumption of reliance is based, but it did provide that defendants could attempt to rebut the presumption of reliance by showing that the alleged misrepresentation that is the basis of the plaintiffs securities claim did not impact the share price of the defendant company’s securities.
Little more than a month ago, we reported to you about the U.S. Equal Employment Opportunity Commission’s (EEOC’s) first lawsuit against a Wisconsin employer concerning its wellness program.
Insureds filing a fire loss claim against their homeowner’s insurance carrier for property damage and loss of personal property must not conceal or misrepresent any material fact or circumstance in presenting the claim.
An engineering firm has produced an alleged fraudulent report of an engineer’s opinion in a Superstorm Sandy flood lawsuit.
Somewhat contrary to what my colleagues and I often hear from our clients, a recently released report indicates increased overall satisfaction among homeowners who filed a property damage claim, according to the J.D. Power 2014 Property Claims Satisfaction Study released this week.
Insurer’s Liability for Breach of Contract is Not a Condition Precedent to Insured’s Bad Faith Claim
A Florida appeals court recently held in Cammarata v. State Farm Florida Insurance Co. that an insured is not required to show that its insurer breached the insurance policy before it can bring a claim for bad faith. Although the insured must show that the insurer is liable for coverage, this prerequisite can be established by something other than a judgment, such as the insurer’s voluntary payment of policy limits or a settlement.
This article was first published in Global Reinsurance Magazine on 30 September 2014 and is reproduced in the blog with kind permission of the publishers.
Supreme Court Will Not Consider the Securities Act Statute of Repose Issue in the Indy Mac Case After All
As I had noted on this blog (here), one of the important securities law cases on the U.S. Supreme Court’s docket for the upcoming term involved the failed IndyMac bank.
The information in an application for insurance is extremely important; it contains information which the insurance company uses to determine if it will extend coverage, what type and how much coverage, and is used to determine the level of risk.