Industry News
Forty-one former employees of Fannie Mae on Wednesday sued the company, its chief executive and Federal Housing Finance Agency Director Bill Pulte for alleged defamation related to their dismissals in April. The ex-employees of the government-controlled mortgage giant are seeking …
Via: Claims Journal
“Are you being serious?” Christopher Swift, chair and chief executive officer of The Hartford, was taken aback by a question from an analyst during the company’s second-quarter earnings call about the impact of litigation finance on the insurer’s results. “It’s …
Via: Claims Journal
Tesla Inc. is looking to hire someone to test its driver-assistance technology on the streets of New York City, suggesting the carmaker could be looking to expand its ride-hailing services to the largest U.S. metropolis. A new job listing in …
Via: Claims Journal
Despite allegations of fraud and padding of premiums, neither a Miami-based cargo insurance broker nor a Lloyd’s coverholder can be asked to pay punitive damages in a breach-of-contract dispute, a Florida appeals court decided last week. “A plaintiff … may …
Via: Claims Journal
European shipbuilder Fincantieri sued Owens Corning for fraud, accusing one of the largest global suppliers of fiberglass insulation of selling faulty fire-resisting panels, resulting in costly repairs and the delayed launch of at least two ships. In the lawsuit, filed …
Via: Claims Journal
The Trump administration is proposing nearly $1 billion in funding to speed the development of U.S. critical minerals and materials, used in everything from electric vehicle batteries to semiconductors, the Energy Department said on Wednesday. The department intends to offer …
Via: Claims Journal
Zelle was sued on Wednesday by New York Attorney General Letitia James, who said the electronic payment platform’s refusal to adopt critical safety features enabled fraudsters to steal more than $1 billion from consumers. The lawsuit in a New York …
Via: Claims Journal
Top U.S. chip-equipment supplier Applied Materials was sued by a rival in China over alleged trade secret theft, an escalation in the tech war between the world's two largest economies.
Via: Claims Journal
Greek coastguard vessels evacuated tourists and locals, while a volunteer firefighter died in Spain as authorities struggled to quell blazes across the Mediterranean. A wildfire in Volissos forced evacuations from two beaches on the island of Chios, with strong winds …
Via: Claims Journal
Liberty Mutual will give up $4.7 million in profit to settle a U.S. criminal bribery probe into an Indian subsidiary, in the Department of Justice’s first public enforcement action of a federal anti-bribery law it resumed enforcing in June. In …
Via: Claims Journal