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Results: 1-10 of 95

Massachusetts Insurance Commissioner steps down for position in academia
  • Locke Lord LLP
  • USA
  • September 18 2009

According to industry reports, Massachusetts Insurance Commissioner, Nonnie S. Burnes, recently announced her plan to resign from the Insurance Department to become a senior university fellow at Northeastern University, where she earned her law degree


Court approves American Home Mortgage's settlement of a subprime securities class action
  • Locke Lord LLP
  • USA
  • September 18 2009

On July 30, 2009, the US District Court for the Eastern District of New York approved a $37.25 million settlement of a subprime-related securities class action styled, In re American Home Mortgage Securities Litigation


New Jersey releases proposed rule and notice of pre-proposal for disclosure of producer compensation for sales of health insurance policies
  • Locke Lord LLP
  • USA
  • September 21 2009

The New Jersey Department of Banking and Insurance (the “Department”) released a draft rule, N.J.A.C. 11:17B-4 (PRN 2009-242) (the “Proposed Rule”), setting forth the specific requirements of N.J.S.A. 17:22A-41.1


Final rules issued for breach of electronic health information
  • Locke Lord LLP
  • USA
  • September 17 2009

In the last week of August, 2009, the Department of Health and Human Services ("HHS") and the Federal Trade Commission ("FTC") officially published their final rules concerning consumer notification of breaches of protected health information ("PHI"


Delaware Supreme Court: under certain circumstances, a D&O insurer may reasonably withhold its consent to settle
  • Locke Lord LLP
  • USA
  • September 17 2009

In an August 10, 2009 decision, the Delaware Supreme Court held that under certain circumstances, a D&O insurer may reasonably withhold its consent to settle a claim


Court gives preliminary approval to Merrill Lynch's settlement of a subprime-related securities class action
  • Locke Lord LLP
  • USA
  • September 18 2009

On August 24, 2009, the US District Court for the Southern District of New York preliminarily approved a $150 million settlement of a subprime-related securities class action pending against Merrill Lynch and several of its directors and officers styled, Louisiana Sheriff's Pension and Relief Fund v. Conway et al


Court gives preliminary approval to RAIT's settlement of a subprime related securities class action
  • Locke Lord LLP
  • USA
  • September 18 2009

On July 15, 2009, the US District Court for the Eastern District of Pennsylvania preliminarily approved a $32 million settlement of a subprime related securities class action against RAIT Financial Trust, RAIT's directors and officers, Grant Thornton, and Piper Jaffray


Nature’s Sunshine Products, Inc., ("NSP") and two of NSP's officers settle FCPA enforcement action
  • Locke Lord LLP
  • USA
  • September 17 2009

On July 31, 2009, the SEC filed a civil enforcement action against NSP, NSP’s CEO Douglas Faggioli, and NSP’s former CFO, Craig D. Huff, arising out of alleged bribes that NSP made to Brazilian customs officials in violation of the Foreign Corrupt Practices Act


Legislation introduced to eliminate federal antitrust exemption for health insurance and medical malpractice insurance companies
  • Locke Lord LLP
  • USA
  • September 17 2009

Today, Senate Judiciary Committee Chairman Patrick Leahy introduced legislation to eliminate the federal antitrust exemption for health insurance and medical malpractice insurance companies


SEC Task Force to investigate life settlements
  • Locke Lord LLP
  • USA
  • September 21 2009

According to industry reports, the US Securities and Exchange Commission has formed a multidisciplinary task force (“Task Force”) to investigate life settlements (i.e. the sale of life insurance products by policyholders to third-party investors