A former chief financial officer of multiple special purpose acquisition companies (SPACs) was sentenced to three years in prison for embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, …
Management failures, not loose regulations, prompted Silicon Valley Bank’s sudden failure last month, a top Federal Deposit Insurance Corporation (FDIC) official said on Wednesday. “Mismanagement of interest rate risk was at the core of SVB’s problem,” FDIC Vice Chairman Travis …
Former President Donald Trump filed a $500 million lawsuit against his former attorney Michael Cohen for allegedly violating their attorney-client bond and spreading “embarrassing or detrimental” lies. Cohen, whose falling out with Trump has led to exchanges of insults between …
E-cigarette maker Juul Labs Inc agreed on Wednesday to pay $462 million over eight years to settle claims by six U.S. states including New York and California, along with the District of Columbia, that it unlawfully marketed its addictive products …
A 2016 video that Tesla used to promote its self-driving technology was staged to show capabilities like stopping at a red light and accelerating at a green light that the system did not have, according to testimony by a senior …
The devastation of Hurricane Ian reminds us that the opportunity for property subrogation success is often disguised as an Act of God. The claims history of most domestic insurance carriers is littered with billion dollar claims as a result of …
Technology giants including Apple Inc., Microsoft Corp. and Google, facing questions about whether they’d hand over users’ personal data to authorities pursuing evidence on abortion seekers, are bracing for the multi-state legal quagmire that will govern privacy in a post-Roe …
U.S. officials are testing a new wildfire retardant after two decades of buying millions of gallons annually from one supplier, but watchdogs say the expensive strategy is overly fixated on aerial attacks at the expense of hiring more fire-line digging …
Rising commercial property insurance costs have gotten the attention of executives across a broad cross-section of corporate America. Aon, a leading broker of commercial insurance, reports that fourth-quarter 2021 was the 17th consecutive quarter of positive rate increases for commercial …
There is no longer a need to ponder the “next asbestos” because the current litigation environment and the recent pace of additions to the list of emerging risks and trends in casualty insurance is enough to keep the industry on …