D&O News

Intel Shareholders Sue Chipmaker After Job, Dividend Cuts Cause Stock Plunge

Intel was sued on Wednesday by shareholders who said the Silicon Valley chipmaker fraudulently concealed problems that led it to post weak results, slash jobs and suspend its dividend, and caused its market value to sink more than $32 billion …

Wells Fargo Must Face Lawsuit Over Sham Job Interviews

A U.S. judge ordered Wells Fargo to face a lawsuit alleging it defrauded shareholders by proclaiming its commitment to hiring diversity, even as it conducted sham job interviews of non-white and female applicants it had no plans to hire. U.S. …

Elliott Says Santander’s Use of Signal Messaging App Hampers Lawsuit

Elliott Investment Management has alleged that Banco Santander SA’s practice of using an auto-deleting messaging platform, in this instance to discuss a take-private deal, is hampering its long-running lawsuit against the bank. The hedge fund sued Santander affiliates and board …

Are Employers Prepared for California’s Workplace Violence Prevention Law?

California’s Workplace Violence Prevention Senate Bill 553, which is now in effect (July 1), requires businesses with exposure in the state to implement robust workplace violence prevention plans. SB 553, which modifies an existing California labor code, gives the state’s …

Under Armour to Pay $434M to Settle Lawsuit Over Sales Disclosures

Under Armour on Friday said it has agreed to pay $434 million to settle a 2017 class action lawsuit accusing the sports apparel maker of defrauding shareholders about its revenue growth in order to meet Wall Street forecasts. The proposed …

A Good Year May Not Be a Good Thing in D&O Liability Market, Says AM Best

The U.S. directors and officer segment in 2023 recorded a direct loss ratio of 50.8—the best result in nearly a decade—but industry rating agency AM Best is not convinced the good times will last. In a special report on U.S. …

Qualcomm Reaches $75M Settlement Over Sales and Licensing Practices

Qualcomm agreed to pay $75 million to resolve a lawsuit in which shareholders accused the chipmaker of defrauding them by hiding its anticompetitive sales and licensing practices. A preliminary all-cash settlement was filed on Tuesday with the federal court in …

Directors and Officers Who Fail to Respond to Climate Change May Face Claims

In early March of this year, the Securities and Exchange Commission adopted rules targeted at enhancing and standardizing climate-related disclosures by public companies and in public offerings. The new rules mandate the inclusion of climate risk disclosures in a company’s …

Federal Agency Vows Pursuit of Individual Execs in Probes

The U.S. Justice Department will make executive accountability a part of every investigation of corporate wrongdoing, Deputy Attorney General Rod Rosenstein said. “Under our revised policy, pursuing individuals responsible for wrongdoing will be a top priority in every corporate investigation,” …

Latest Trends in Professional Liability Claims

Professional liability claims and coverage is evolving, according to Steve Whelan, director of management/professional liability product development for ISO. With increasing cyberattacks, comes coverage for ransomware and even blended coverage with other lines. Among other trends, healthcare claims are expected …